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


Folks stroll previous a Tencent signal on the firm headquarters in Shenzhen, Guangdong province, China August 7, 2020.

David Kirton | Reuters

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

The transfer comes after regulators discovered a number of apps made by China’s most dear know-how firm violated knowledge safety guidelines on quite a few events this yr.

Tencent’s app approvals are presently suspended. China’s Ministry of Business and Data Know-how must evaluation any new apps and updates before they are often launched. This might take seven days, CCTV reported, with out citing any sources.

“We’re constantly working to reinforce person safety options inside our apps, and even have common cooperation with related authorities businesses to make sure regulatory compliance. Our apps stay purposeful and obtainable for obtain,” a Tencent spokesperson informed CNBC in an announcement.

Tencent shares in Hong Kong had been up greater than 1% in morning commerce.

Over the previous yr, China has been tightening guidelines on the home tech sector which for years has grown largely unencumbered by regulation. Beijing has launched regulation in areas from antitrust to the way in which algorithms can be used.

One of many greatest laws handed this yr was a landmark personal data protection law. Regulators are focusing closely on how firms are amassing and processing knowledge. The most recent actions towards Tencent are a part of that course of.

The most recent transfer is one other blow for Tencent which has felt the impression of China’s regulatory crackdown. In August, regulators introduced rules that restricted youngsters beneath 18 years previous to only three hours of on-line video video games per week and throughout designated home windows. On the time, Tencent stated solely a small a part of its income comes from such gamers.

Clampdown on different areas appreciated the training sector have additionally weakened promoting urge for food which weighed on the corporate’s third-quarter earnings. Tencent’s third-quarter income got here in at 142.4 billion yuan, up 13% from a yr in the past. That was its slowest quarterly income development since going public in 2004, based on Reuters.



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

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