The Cyber Administration of China (CAC) uncovered on Sunday a draft rule requiring tech firms listing in Hong Kong Stock Exchange (HKSE) to succumb to a cyber security review for share sales jeopardizing national security. Beijing’s watchdog has played its card in its overdue battle with its tech sector, with a maneuver that will endanger […]
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A stock exchange set up in the Chinese capital to serve entrepreneurs opened trading Monday with 81 companies amid a crackdown on tech giants that has wiped more than $1 trillion off their market value abroad. The Beijing Stock Exchange joins other mainland Chinese exchanges in Shanghai and the southern city of Shenzhen. They are […]
Chinese tech giant Tencent Holdings anticipates leniency from Beijing in allowing the use of ‘metaverse’ virtual environment services throughout the country under the condition that it is in line with Chinese rules and regulations, the company said in its first public comments on the metaverse. According to a post-earnings call done on Wednesday, Tencent would […]
Beijing Communications Administration released a data report revealing that by end of August, the Chinese capital obtained 45,700 5G network stations with 12 million users, according to local news agency Xinhua. Beijing fulfilled full 5G network coverage in the city’s key areas, such as the downtown core area, sub-center, and central business district. With every 10,000 […]
Chinese watchdogs backed their regulatory scrutiny on their tech sector as they spoke on Tuesday with Wall Street executives disclosing that regulations are meant to enforce tech companies, not crush them. Fang Xinghai, China’s Securities Regulatory Commission Vice Chairman, told the executives that the government’s latest conduct on tech firms was aimed to enhance their regulations, in addition to bolstering national security and data privacy. […]
Amidst Beijing’s latest regulatory wave to impose dominion on its tech sector, China’s Big Tech shares drastically dropped on Monday as the country’s watchdogs intend to break down Ant Group Co.’s Alipay, at a speed the U.S. and the European Union cannot fathom or dare to indulge in. Following a Financial Times report stating that Beijing is […]
China has allegedly terminated independent driving startup Pony.ai’s efforts to go public on New York Stock Exchange (NYSE) amidst Beijing’s endeavors to enforce regulations on numerous sectors in China’s tech industry, Reuters reported on Wednesday. The California-based company was expected to go public via a special-purpose acquisition with a blank-check company in the U.S. that would have […]
China is ramping up its scrutiny of the practice of community group buying, summoning some of the nation’s largest tech companies for discussions as part of an anti-monopoly push. Community group buying allows groups of people living in the same town or region to buy groceries and other items in bulk at a discounted rate, […]
Beijing has become the second city in China to deploy full 5G coverage. Moreover, the city is expected to have 50000 5G base stations by the end of 2020, according to a statement by the Ministry of Industry and Information Technology on September 9, 2020. In August 2020, Shenzhen was recognized as the first city […]
The US Senate passed a controversial landmark bill that could result in TikTok's ban in the country if President Joe Biden signs.