Tencent will give a $16.4 billion JD.com stake as a dividend to its shareholders, which has weakened its ties with the e-commerce firm and raised questions about its plans for other holdings. Tencent announced that it would distribute HK$127.69 billion (about $16.37 billion) worth of its JD.com stake to shareholders, cutting its holding to 2.3 per cent from 17 per cent.

The move comes as Beijing leads a broad regulatory crackdown on technology firms, aiming their overseas growth initiatives and engagement of market in China. Tencent said it was a good time to transfer its stake as the e-commerce firm can self-finance its growth.