Tencent announced minimal damage from the ban on transactions in the United States

Banning Tencent's financial activities in the United States will have a minimal impact on the revenue of the Chinese company, said Tencent chief strategy specialist James Mitchell during a teleconference. It is reported by Nikkei Asian Review. On August 6, US President Donald Trump signed a decree restricting the activities of Tencent. After this decision comes into force, Tencent will not be able to conduct financial transactions in the United States. The vague wording of Trump's decision suggests that this decree will also limit the cooperation of American companies with Tencent outside the United States. However, Tencent representative James Mitchell emphasized that in its current form this decision is limited to the territory of the United States and does not provide for a ban on advertising American companies on Tencent sites in China. Mitchell added that the United States accounts for about 2% of the company's total revenue. The share of advertising income received in the United States is even less and is about 1%. As previously reported by the news agency, in August, Tencent said that the company's revenue in the second quarter of this year amounted to 114.88 billion yuan (about $16 billion), which is 29% more than in the same period of 2019.