Index Option Calls
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Index Option Calls
No Result
View All Result
Home Latest News

Tencent must get approval from Chinese regulators before publishing new apps and updates

by
November 25, 2021
in Latest News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

RELATED POSTS

Here’s where to invest $10,000 right now, according to the pros

Jamie Dimon is being deposed over JPMorgan Chase role in Epstein lawsuits

People walk past a Tencent sign at the company headquarters in Shenzhen, Guangdong province, China August 7, 2020.

David Kirton | Reuters

GUANGZHOU, China — Tencent must get approval from Chinese regulators to send out updates for its apps, state broadcaster CCTV reported Wednesday.

The move comes after regulators found several apps made by China’s most valuable technology company violated data protection rules on a number of occasions this year.

Tencent’s app approvals are currently suspended. China’s Ministry of Industry and Information Technology must review any new apps and updates before they can be launched. This could take seven days, CCTV reported, without citing any sources.

“We are continuously working to enhance user protection features within our apps, and also have regular cooperation with relevant government agencies to ensure regulatory compliance. Our apps remain functional and available for download,” a Tencent spokesperson told CNBC in a statement.

Tencent shares in Hong Kong were up more than 1% in morning trade.

Over the past year, China has been tightening rules on the domestic tech sector which for years has grown largely unencumbered by regulation. Beijing has introduced regulation in areas from antitrust to the way in which algorithms can be used.

One of the biggest regulations passed this year was a landmark personal data protection law. Regulators are focusing heavily on how companies are collecting and processing data. The latest actions against Tencent are part of that process.

The latest move is another blow for Tencent which has felt the impact of China’s regulatory crackdown. In August, regulators introduced rules that limited children under 18 years old to just three hours of online video games a week and during designated windows. At the time, Tencent said only a small part of its revenue comes from such players.

Clampdown on other areas liked the education sector have also weakened advertising appetite which weighed on the company’s third-quarter earnings. Tencent’s third-quarter revenue came in at 142.4 billion yuan, up 13% from a year ago. That was its slowest quarterly revenue growth since going public in 2004, according to Reuters.

ShareTweetPin

Related Posts

Here’s where to invest $10,000 right now, according to the pros

by
March 29, 2023
0

Markets have been hit by volatility over the past month leading some retail investors to question where to park their...

Jamie Dimon is being deposed over JPMorgan Chase role in Epstein lawsuits

by
March 29, 2023
0

Jamie Dimon, chairman and chief executive officer of JPMorgan Chase & Co., during a Bloomberg Television interview at the JPMorgan...

Mortgage demand gets a boost from bank volatility, but it may be short-lived

by
March 29, 2023
0

An 'open house' flag is displayed outside a single family home on September 22, 2022 in Los Angeles, California. Allison...

Bitcoin climbs 5% above $28,000 as investors shrug off regulatory crackdowns

by
March 29, 2023
0

In this article BTC.CM= Follow your favorite stocksCREATE FREE ACCOUNT Bitcoin is up 50% so far in 2023, beating major...

IHOP overhauls its menu: Cinn-A-Stack pancakes are back, savory crepes are in

by
March 29, 2023
0

In this article DIN Follow your favorite stocksCREATE FREE ACCOUNT IHOP's new crepe lineup features sweet and savory flavors. Source:...

Next Post

State filings detail construction work at Tesla's $1.1B factory east of Austin

How one rate hike by a small African nation could derail Powell’s Fed inflation-fighting plans and sink stocks

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • A Couple Stored IRA Gold at Home. They Owe the IRS More Than $300,000.

    0 shares
    Share 0 Tweet 0
  • A California Couple Spent Eight Years Building Their Dream Retirement Home in Costa Rica

    0 shares
    Share 0 Tweet 0
  • Goldman Sachs says buy these stocks to play Web 3.0 and the metaverse

    0 shares
    Share 0 Tweet 0
  • In his final warning, this stock trading wizard — who made big money in bear markets and crashes — called this market a bubble like no other

    0 shares
    Share 0 Tweet 0
  • Goldman Sachs picks new stocks to buy — and says these 5 have over 100% upside

    0 shares
    Share 0 Tweet 0
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by www.indexoptioncalls.com
No Result
View All Result
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy

All rights reserved by www.indexoptioncalls.com