Chinese regulators fine tech giants over anti-monopoly violations

Chinese tech giants Alibaba Group and Tencent Holdings were fined as they failed to report corporate acquisitions. The State Administration for Market Regulation said that the companies have failed to report 43 acquisitions, occurred around eight years ago under rules on "operating concentra...

Tencent acquires Wake Up, a Japanese gaming studio in $44 million deal

Tencent Chinese games and messaging colossus has acquired Wake Up, a Japanese creative studio. The studio was responsible for several hit Nintendo Switch titles, and now the studio is seeking to recover from a government crackdown on the gaming sector.

Highlights

Tencent is affected by China’s Gaming Crackdown, witness slow profit growth

Tencent Chinese gaming and social media giant has posted its quarterly profit growth. This is the company’s slowest quarterly profit growth in two years. China's largest company was hit by the new rules by the Chinese regulators, regarding the amount of time minors spend on gaming.

NetEase and Tencent shares fall as media calls them “electronic drugs”

The shares of two of the biggest Chinese gaming companies fall up to 10 % in the early Hong Kong trade. This fall in shares happened after an article was published by the Economic Information Daily called these as “electronic drugs”.

The news article publish...

SEOUL WOO TOURIST FROM CHINA BY JOINING HANDS WITH TENCENT CLOUD

Highlights:

• Seoul’s Metropolitan Government has signed an MoU with Tencent Cloud to rebound its tourism industry post-pandemic. 
• Seoul as well as Tencent Cloud plans to create a dedicated mobile application for Chinese tourists. 
...

CHINESE REGULATOR MAKES ALIBABA GROUP PAY $2.8 BILLION AS FINE

Highlights –

• Chinese regulator makes Alibaba Group pay $2.8 billion as fine.
• Alibaba Group has been fined for anti-competitive tactics.
• Alibaba accepted the penalty and has said to comply the same with determination.
• Tencen...

11 CHINESE TECHNOLOGY COMPANIES SUMMONED ON USE OF ‘DEEPFAKE’ TECHNOLOGIES

Highlights –

• 11 Chinese technology companies summoned on use of ‘deepfake’ technologies.
• Alibaba Group, Tencent and ByteDance are among the companies summoned by Chinese regulators.
• Deepfakes are said to use artificial int...

CHINA TO DOLE OUT $1.5 MILLION IN A DIGITAL CURRENCY PILOT RUN DURING LUNAR NEW YEAR

• Beijing will dole out about $1.5 million in a limited trial run of the central bank’s digital currency, as told by the municipal government over the weekend.
• A sum total of 10 million yuan will be handed out through about 50,000 packets of 200 yuan, or about $30, each.

BIG TECH NAMES TENCENT AND DOUYIN TAKE FIGHT INTO EACH OTHER’S CAMPS

• As China sharpens its claws on the country’s leading tech companies, two of the industry's biggest names in the business are indulging in a verbal backlash.
• Douyin — the Chinese version of short-content video app TikTok -— sued Tencent (TCEHY) on Tuesday. ...

ALIBABA REPORTS HUGE QUARTERLY PROFITS EVEN AS BEIJING STIRS TROUBLE

• Alibaba reported big quarterly earnings in profits for its e-commerce business. However China's most prosperous tech firm had nervousness writ large on faces of investors on Tuesday.
• This was due to a regulatory crackdown by Beijing followed by co-founder Jack Ma's bad ...

INDIA PUTS PAID TO 59 CHINESE APPS INCLUDING BYTE DANCE’S TIK TOK AND TENCENT’S WECHAT

• On Jan.25, India’s Ministry of Electronics and Information Technology conclusively paid put to 59 Chinese applications, including ByteDance’s Tik Tok, Tencent’s WeChat, Baidu, Alibaba’s UC Browser, digital e-commerce app Club Factory, Xiaomi’s Mi Video Call, ...

CHINA’S BAIDU AND GEELY’S MERGER TO ROLLOUT WITH SMART CARS

• Baidu will hone in with smart driving dynamics while Geely will offer design and manufacturing saliency.
• Geely is a pioneer in china’s automobile industry, and also is proprietor of Volvo and owns a stake in Mercedes-Benz owner Daimler.

The two companies...

ALIPAY-THE OMNIPRESENT APP TO GET AROUND IN CHINA

• The most significantly important item to have for Chinese citizens whenever they are on or an outing or hailing a cab on a moonlit night is the Alipay smartphone app.    
• As always, the smallest but smartest thing to carry in possession during a recent outin...

U.S. JUSTICE DEPARTMENT SEEK AN IMMEDIATE BAN ON DOWNLOADS OF WeChat

Highlights

• The President of the United States, Donald Trump on August 6 had issued an executive order to ban two Chinese apps TikTok and WeChat, effective from September 20

• Last Saturday, Magistrate Judge Laurel Beeler in California had agreed to delay US restric...

TENCENT'S WeChat WITNESSES JUMP IN NUMBER OF DOWNLOADS BEFORE US BAN

Highlights

• The US Department of Commerce had issued an order asking Alphabet Inc’s Google and Apple Inc to take down WeChat for downloads, but this move was blocked by a US judge on Sunday

• According to data analytics firm Sensor Tower, WeChat was installed ...

ByteDance FILES COMPLAINT IN A WASHINGTON COURT AGAINST U.S GOVERNMENT TO BLOCK BAN

Highlights

• TikTok along with its parent company, ByteDance Ltd has filed a complaint in Washington federal court in order to challenge the executive order issued by the President Donald Trump on August 6

• TikTok and ByteDance in their complaint have alleged Trump ...

US TO BAN TikTok AND WeChat FROM SUNDAY: OFFICIALS

Highlights

• After this ban, no American will be able to download these two apps developed by Chinese companies ByteDance and Tencent

• This ban announced on Friday will affect only new downloads and updates, while the existing users can continue using TikTok

UPCOMING WeChat BAN WON’T IMPACT USERS SAYS US GOVERNMENT

Highlights

• An executive order was issued by the President Trump on August 6 that targeted TikTok and WeChat as purported threat to the national security

• A suit was filed in the federal court in California to stop this ban by the nonprofit US WeChat Users Alliance...

IMPACT OF TRUMP’S WeChat BAN ON U.S. BUSINESSES IN CHINA

The President of the United States, Donald Trump recently signed an executive order to ban WeChat, a mobile-payment app that is owned by Chinese technology giant Tencent Holdings.
According to the market analysts and experts, the impact of a ban of WeChat will more than on TikTok. The busi...

KITCHEN HELPER BECOMES RUNAWAY ESPORTS PLAYER WITH UNDYING FAN-BASE

• Peng Yunfei could not have believed this in his wildest dreams that he would one day become a top electronic-sports player having a tens  of millions fan-base.
• Furthermore, all this when he was doing paltry kitchen work in a Shanghai restaurant in Xuhui District four years...