(Yicai Global) Nov. 13 -- Tencent Holdings has sought to assure its investors about the Chinese government's unwavering support to the internet sector despite the changing anti-monopoly rules.

China still supports internet companies and Tencent is working with authorities to ensure compliance with regulation, an executive at the Shenzhen-based firm said during an earnings call yesterday.

On Nov. 10, the State Administration for Market Regulation issued draft rules, aimed at protecting fair competition in the internet sector. The bureau seeks public feedback on the draft till Nov. 30. The move caused shares of tech firms, including Tencent, JD.Com, and Meituan to plunge.

As the government is forming new policies regarding platform supervision, the impact on Tencent remains to be seen, Everbright Securities wrote in a research report.

The guidelines may affect e-commerce firms more than digital entertainment companies that work with games and videos, said Tencent, whose fee-based value-added services made up more than half of its revenue in the third quarter.

The company's WeChat business could still be a target, CITIC Securities wrote in a report. For example, the social media platform's earlier ban on sharing links to Alibaba Group Holding's e-commerce platform Taobao and ByteDance's video application Douyin could be considered a refusal to deal, it added. However, the general impact on games, advertising, and financial services is expected to be limited, according to the report.

“Our platform is naturally open. We cooperate with many partners," according to the Tencent executive. "We focus on providing users with good products, rather than business monetization. As we get stronger via competition, the company will also generate a good competition mechanism.”

The rules emphasize ensuring a fair market environment, promoting innovation, and balancing stakeholder interests, Tencent said, adding that such regulation is not new, nor unique in China. As companies get larger and contribute more to the economy, there will be more rules, not just in China but globally, it added.

Tencent’s net profit surged 89 percent to CNY38.5 billion (USD5.8 billion) in the third quarter from a year ago due to its rising number of subscribers of gaming, music, and video content, according to the earnings report.

Tencent's stock price [HKG: 0700] rose 3.1 percent to HKD595 (USD76.70) this morning.

Editor: Emmi Laine