Tencent Holdings Ltd is facing a potential fine, which could be at least hundreds of millions of yuan, for violating some central bank regulations on its WeChat Pay mobile network, the Wall Street Journal reported on Monday, citing people familiar with the matter. Financial regulators recently found that WeChat Pay had broken China’s anti-money-laundering rules […]
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China’s Tencent Holdings Ltd said on Thursday it plans to have its operations and supply chain achieve carbon neutrality by the end of the decade. The company, whose businesses range from messaging app WeChat to games and cloud-based services, is also committing to using green power for 100 percent of its electricity use by 2030. […]
E-commerce sites operated by China’s Tencent Holdings Ltd and Alibaba Group Holding Ltd were included on the U.S. government’s latest “notorious markets” list, the U.S. Trade Representative’s office said on Thursday. The list identifies 42 online markets and 35 physical markets that are reported to engage in or facilitate substantial trademark counterfeiting or copyright piracy. […]
In its latest move to expand its banned list of Chinese applications, India has placed tech companies in a much more difficult position for operational oversight in South Africa. India’s Ministry of Electronics and Information Technology added 54 Chinese tech companies to its list of banned companies under security pretenses, according to the Economic Times on Monday. […]
China’s cyberspace watchdog said a symposium it held with Chinese tech giants last month had given the industry a “clearer understanding” and more confidence in how to pursue development and opportunities as they adjust to a new regulatory landscape. The Cyberspace Administration of China said its official publication had carried out interviews with companies such […]
China’s New Oriental dismissed 60,000 employees and saw operating income plunge by 80% after Beijing enforced new sweeping rules on the country’s private education industry that barred for-profit tutoring last year, according to its founder. Yu Minhong, who founded the company in 1993, published the figures on his official WeChat account on Saturday in a […]
To help make China a self-reliant “technology superpower,” the ruling Communist Party is pushing the world’s biggest e-commerce company to take on the tricky, expensive business of designing its own processor chips — a business unlike anything Alibaba Group has done before. Its 3-year-old chip unit, T-Head, unveiled its third processor in October, the Yitian […]
Human resources and upper management wouldn’t deal with her accusation of sexual assault, a former employee of Alibaba said. So she went into the busy cafeteria at the Chinese e-commerce giant’s headquarters and screamed out her plight. Now she’s facing online harassment, accusations of lying from the wives of the two men she accused and […]
China’s dominant ride-hailing service, Didi Global Inc., said Friday it will pull out of the New York Stock Exchange and shift its share trading to Hong Kong as the ruling Communist Party tightens control over tech industries. Didi gave no explanation, but China’s leaders increasingly fret about who controls information gathered about its public by […]
Yahoo Inc. is leaving the China market, suspending its services there as of Monday amid what it says is an “increasingly challenging” business and legal environment. Foreign technology firms have been pulling out or downsizing their operations in mainland China as a strict data privacy law specifying how companies collect and store data takes effect. […]