South African telecom company Naspers said in a statement Wednesday that its tech arm had sold up to 2% of Chinese internet giant Tencent for $14.7 billion, cutting its stake in China’s most valuable tech firm to 28.9%.Why it matters: Naspers’s block sale repeats a March 2018 trade in...

China’s top antitrust regulator is looking into Tencent’s WeChat for monopolistic practices and how the popular messaging app had possibly squeezed smaller competitors, Reuters reported, citing anonymous sources. Why it matters: The latest development in China’s antitrust campaign...

Chinese regulators have given more than 130 apps including those developed by dronemaker DJI, social media and gaming giant Tencent, and artificial intelligence firm iFlyTek until Wednesday to fix privacy violations that include overcollecting users’ personal information.Why it matters:...

China on March 9 rolled out its own “vaccine passport” amid global controversy around potential equality and privacy issues of the health document.China’s vaccine passport, the International Travel Health Certificate (ITHC), serves as an international version of China’s year-old health...

For the last few years, ByteDance, the parent company of short video app TikTok, has been working to diversify its revenue streams beyond advertisement and find more ways to monetize its hundreds of millions of users. One area it is targeting is gaming, which has historically been a lucrative...

Huawei is seeking approval from authorities to acquire licensed digital payment provider Xunlian Zhifu, Chinese media reported.Why it matters: The telecommunications giant is the latest of China’s big tech firms to expand into the digital payment industry, just as regulators are trying to...

Huawei is seeking approval from authorities to acquire licensed digital payment provider Xunlian Zhifu, Chinese media reported.Why it matters: The telecommunications giant is the latest of China’s big tech firms to expand into the digital payment industry, just as regulators are trying to...

Huawei is seeking approval from authorities to acquire licensed digital payment provider Xunlian Zhifu, Chinese media reported.Why it matters: The telecommunications giant is the latest of China’s big tech firms to expand into the digital payment industry, just as regulators are trying to...

A joint venture between General Motors, Chinese automaker SAIC, and connected car startup PATEO has filed a formal complaint against Tencent for using illegal, anti-competitive tactics to bully its rivals.Why it matters: The complaint, currently under review by local authorities, marks the...

China on Sunday put into effect new antitrust guidelines targeting internet platforms, subjecting the country’s tech industry to tougher rules on competition.Why it matters: The guidelines formalize earlier draft rules announced by China’s State Administration for Market Regulation...

Beijing has imposed a RMB 3 million fine on the operator of Chinese flash sale online retailer Vipshop.com for unfair competition.Why it matters: Coupled with a RMB 500,000 penalty for irregular pricing dealt out in December, regulation pressure is rising as Tencent-backed Vipshop’s share...

Douyin, ByteDance’s Chinese version of TikTok, said on Tuesday it had sued Chinese social media giant Tencent for monopolistic behavior including blocking Douyin’s content on its WeChat and QQ instant-messaging apps.Why it matters: The legal move comes as China tightens antitrust...

Two of China’s most visible tech companies are going to court. On Tuesday, TikTok owner ByteDance sued Tencent, according to Bloomberg. ByteDance claims Tencent broke the country’s antitrust laws by blocking people from accessing content from...

Shares of the electric vehicle unit of Chinese property giant Evergrande surged nearly 50% on Monday after announcing that it had raised $3.35 billion from six investors in an add-on share sale to support its plan to become “the world’s largest EV maker.”Why it matters: The sale, one of...