Tencent allowed users of its main WeChat social media service to link to rivals’ content, taking initial steps to comply with Beijing’s calls to end walled gardens.
China’s unprecedented crackdown on its technology industry has turned Tencent Holdings from a market darling into the world’s biggest stock loser this month.
International investors are feeling bruised and uncertain as days of heavy selling hammered China’s top technology stocks that began to seep into currency and debt markets.
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”.
US President Joe Biden is withdrawing a series of executive orders that sought to ban new downloads of WeChat and TikTok.
China is preparing a substantial fine for Tencent Holdings as part of its sweeping antitrust clampdown on the country’s Internet giants, two people with direct knowledge of the matter said.
Encrypted messaging app Signal appeared to no longer be working in China without the use of a virtual private network on Tuesday morning, users in the country said.
ByteDance is suing Tencent Holdings over alleged monopolies in its WeChat and QQ platforms, escalating a feud between the leading Chinese social media giants.
US President Donald Trump has signed an order banning US transactions with eight digital Chinese payment platforms including Ant Group’s Alipay in 45 days, when he’ll no longer be in office.
Tencent joined much of China’s Internet sector in a $290-billion selloff on Wednesday after Beijing signalled its strongest intentions yet to rein in Big Tech. Yet it’s in some ways better shielded than its peers.