Tencent

Cybersecurity firm Internet 2.0 claims the rapidly deteriorating legal status of Hong Kong has undermined any claims by Chinese social media app WeChat that user data is being protected. On Sept. 30, 2020, WeChat made a written submission to the Australian Parliamentary Select Committee on Foreign Interference through Social Media, claiming that user data was […]

China’s clampdown on the tech sector isn’t over yet—Video game firm Tencent—which owns the country’s biggest social media platform WeChat— saw its stock tumble about 10 percent on Monday.

The U.S. government is releasing the latest list of “notorious markets.” New on the list are two household names in China’s e-commerce sector: AliExpress, which is owned by tech giant Alibaba, and WeChat, which is owned by another tech giant Tencent.

Shares of Chinese e-commerce site JD.com plummeted Thursday after its largest shareholder, Tencent, said it will give away most of its stake. It raises questions about Tencent’s plans for other holdings.

Chinese companies have fully disappeared from the globe’s top 10 companies by market capitalization with the dropout of Tencent and Alibaba.

It seems Beijing missed the memo on the expression “the punishment should fit the crime,” as Chinese tech company Tencent faces an over $400,000 fine over a relatively small infraction.

Another tale of forced demolition strikes a family in China. The victims say authorities railroaded them—and now they’ve lost everything. An over $400,000 fine, over a rule-breaking gain of $300—the Chinese Communist Party ramps up its clampdown on the country’s fintech industry. Parts of northern China are seeing renewed lockdown orders amid a surge of […]