Tencent’s WeChat has temporarily suspended registration of new users in mainland China as it undergoes a technical upgrade “to align with relevant laws and regulations”, China’s dominant instant messaging platform said on Tuesday, reported Reuters. “We are currently upgrading our security technology to align with all relevant laws and regulations,” the company said in a statement […]
Category: Law & Regulation
Beijing ordered Tencent Holdings Ltd. to relinquish all their exclusive global music licensing deals within 30 days and fined the firm RMB 500,000 ($77,175) for anti-competitive practices, according to an executive punishmentpublished Saturday by the State Administration for Market Regulation, reported Caixin. It comes after an official probe of Tencent’s 2016 purchase of a major stake […]
China Telecom, one of China’s state-run telecoms groups, has been cleared to raise $8.4 billion in Shanghai after being forced off the New York Stock Exchange, in what would be the country’s biggest listing in a decade, reported the Financial Times. The company was booted from the New York Stock Exchange along with state-run peers […]
China’s internet ministry has launched a new nationwide campaign to purge what it deems problems in the internet industry, which has been battered for months in an almost continuous crackdown from different government bodies, reported the South China Morning Post. The Ministry of Industry and Information Technology (MIIT), one of China’s top government bodies responsible for regulating […]
Global investors sold $2 billion of Chinese stocks on Monday as Beijing’s crackdown on education companies raised fears of more regulatory tightening across the world’s second-biggest economy, reported the Financial Times. Investors offloaded RMB12.8 billion ($2 billion) worth of Shanghai and Shenzhen-listed shares through market link-ups in Hong Kong, marking the fastest pace of foreign […]