BEIJING—Chinese internet giant Tencent Holdings Ltd. announced its first restructuring in six years Sunday, including creating a new division to focus on business services such as cloud computing.

Tencent has lagged behind rival Alibaba Group Holding Ltd. in cloud computing. Business services are seen as a potential growth area as revenue from videogames and advertising—Tencent’s bread-and-butter—slows, partly because of regulatory problems and a maturing market.


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