China Newsbase
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The China News Database was last updated at 01:50PM on November 9, 2023.
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682 articles matching the search query.
Tencent reported to be cutting 20% of its workforce · TechNode
Rumor has it that Tencent is cutting 20% of its staff, according to some reports, joining the list of big tech companies that have trimmed their workforce starting last year.
China Crackdown Risk Roars Back With Probe of Jack Ma’s Empire
Further crackdown fears have hit Alibaba, Tencent, and Meituan, who collectively shed more than $100 billion in three days of trading after a “series of events that suggest Beijing is once more preparing to rein in its giant private sector.” One of those events was a recent warning from multiple regulators to institutions to double-check their exposure to Alibaba’s Ant Group.
China's Tencent restores Fight Club ending after backlash
A rare instance of reversed censorship: Tencent restored the original ending to Fight Club after the abridged version of the movie triggered social media backlash over cinematic censorship, per Bloomberg. Tencent’s version had replaced the explosive ending with a silent line of text declaring that authorities brought the criminals to justice, the BBC reports.
Fight Club Ending in China Changed Back After Weibo Social Backlash
A rare instance of reversed censorship: Tencent restored the original ending to Fight Club after the abridged version of the movie triggered social media backlash over cinematic censorship, per Bloomberg. Tencent’s version had replaced the explosive ending with a silent line of text declaring that authorities brought the criminals to justice, the BBC reports.
国家出手！13张罚单集中公布！涉及多家巨头
Internet companies have just been hit with another round of fines (in Chinese): Tencent, Bilibili, Alibaba, and the white goods firm Hisense, among others, were fined for monopolistic behaviors, but the fines were tiny: 500,000 yuan ($78,683) each.
China Launches Digital Yuan App in Pilot Cities Nationwide
A digital yuan app has now launched in 12 cities and regions, including Shenzhen, Shanghai, Beijing, and Zhangjiakou — another hosting location of the Beijing Olympics next month. Caixin reports that the app allows users to choose between nine partner banks, including Tencent’s WeBank and Ant Group’s MYbank, and transfer funds and make online and offline payments.
China Fines Alibaba, Tencent in Latest Antitrust Investigation
Just another day in antitrust enforcement: “Alibaba, Tencent, and Baidu are the target of another round of antitrust fines on Saturday [November 20] totaling 21.5 million yuan ($3.4 million),” per Bloomberg via Caixin. Other big names in China tech such as JD.com, ByteDance, and Meituan were also “fined 500,000 yuan ($78,000) for each violation” of antitrust law, TechNode reports. Caixin notes that the “first salvo since the appointment of Gān Lín 甘霖 as the head of the country’s anti-monopoly bureau” was met mostly with a shrug by markets.
Tencent ends content creator incentive project after backlash · TechNode
Tencent is ending an incentive program to attract content creators to its video platform from competitors like Bilibili and Kuaishou after accusations the company lured them in with false promises.
China Evergrande to Shed Stake in Tencent-Backed Venture for $273 Million
Cash-strapped property giant Evergrande said it will sell its entire stake in a provider of video streaming and Internet home services—in which it invested jointly with internet behemoth Tencent in 2015—for $273 million.
South African payments gateway Ozow raises $48M Series B led by Tencent
Tencent led a $48 million funding round for South African startup Ozow, which aims to make financial services more widely accessible to underbanked South Africans.
China’s game licensing freeze could soon thaw, as stocks jump at the news
Regulators will restart video game approvals later this month, ending the longest licensing freeze since 2018, and bringing relief to developers increasingly looking to international markets.
36氪独家｜小红书完成新一轮5亿美元融资，投后估值高达200亿美元_详细解读_最新资讯_热点事件_36氪
Social commerce app Xiaohongshu’s valuation is up to $20 billion, doubling within half a year, after raising $500 million from investors including Tencent and Alibaba.
Tencent launches three new chips as China's tech giants bolster efforts in semiconductors
Tencent is joining China’s race for semiconductor self-sufficiency, designing three chips for various AI and networking applications, per CNBC. But like others, these chips would rely on overseas ARM architecture, which could pose geopolitical risks, as Paul Triolo explained on SupChina.
China ministry orders 38 apps to rectify excessive collection of personal data
The government has ordered 38 apps from several companies, including Tencent and Xiaohongshu, to rein in their data collection practices two days after its sweeping Personal Information Protection Law went into effect.
miHoYo joins Alibaba, Tencent, picking Singapore as key international hub
Gaming company expands to Singapore: miHoYo, owner of the massive hit video game Genshin Impact, is the latest of several Chinese companies placing bets on the business-friendly city-state.
T3出行完成A轮77亿元融资，中信联合体领投_实时热点_热点聚焦_36氪快讯_36氪
Ride-hailer bags huge Series A: Alibaba– and Tencent-backed T3, a rising Didi competitor, just raised $1.2 billion in the largest haul of any ride-hailing company since 2018.
Is China’s virtual idol boom a trend with staying power? · TechNode
Virtual influencers gain traction: Perhaps looking to avoid scandals and controversies around human representatives, companies are turning to digital characters to promote their brands and products.
Alibaba, Tencent rename their NFTs as ‘digital collectibles’ amid bubble fears
The two companies’ rebranding moves followed state media’s recent warning of a potentially ‘huge bubble’ in the new digital asset market.
Tencent said to form gaming studio for metaverse-like developments
Tencent enters the metaverse: While Facebook reinvents itself with a focus on virtual worlds, Tencent’s gaming division is assembling a new studio across four countries to design its own.
China Weighs Opening Tencent, ByteDance Content to Search, Sources Say
Imagine if Facebook posts showed up in YouTube search results. Beijing may ask Tencent and ByteDance to make such a thing possible, aiming to break down barriers between tech platforms.
