WeChat

Tencent’s e-commerce drive takes off in 2023 on the back of super app WeChat’s short video and live streaming function

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Tencent’s e-commerce drive takes off in 2023 on the back of super app WeChat’s short video and live streaming function

WeChat’s short video and live streaming function enabled the platform to record nearly triple gross merchandise volume (GMV) in 2023, according to information released on Thursday during the app’s annual Open Class Pro developer conference held in Guangzhou, capital of southern Guangdong province. While the platform’s exact GMV figures were not released, conference attendees were … Read more

Chinese fintech giant Ant Group gets approval for no-controller status, ending Jack Ma’s reign before seeking IPO

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Chinese fintech giant Ant Group gets approval for no-controller status, ending Jack Ma’s reign before seeking IPO

China’s central bank has agreed that Ant Group’s mobile payment app Alipay has no controller, a crucial step in the fintech giant’s overhaul deemed necessary to put its much-anticipated initial public offering back on track. The billionaire’s share of the voting rights are now divided among Hangzhou Junhan Equity Investment – owned by Ma and … Read more

China’s finance influencers face stricter rules on Tencent’s live-streaming channels as Beijing moves to shore up confidence on economy

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China’s finance influencers face stricter rules on Tencent’s live-streaming channels as Beijing moves to shore up confidence on economy

Tencent Holdings has tightened its rules for live streamers producing financial content on its popular social media platform WeChat, as Beijing ramps up scrutiny of online speech to arrest waning confidence in the country’s economy and markets. Only licensed professionals are now permitted to be finance live streamers on WeChat, and they must show up … Read more

China gives green light for 5-year plan to cut digital red tape, ‘meaningless labour’

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China gives green light for 5-year plan to cut digital red tape, ‘meaningless labour’

China’s cyberspace regulator has launched a long-term campaign to cut down on red tape and excessive formalities across government apps and social media. The directive was issued on Monday by the Central Cyberspace Affairs Commission (CCAC), the Communist Party oversight body that sits at the top of the State Council’s Cyberspace Administration, which was set … Read more

China’s WeChat Updates Policy to Ban Accounts Related to Cryptos and NFT Services

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China’s WeChat Updates Policy to Ban Accounts Related to Cryptos and NFT Services

WeChat, China’s most popular social media platform which has more than 1.1 billion daily users, has revised its policy to prohibit accounts from providing access to crypto or nonfungible token (NFT)-related services. As per the reports, accounts involved in the issue, trading, and financing of crypto and NFTs will be restricted or prohibited under the … Read more

China’s online censors target short videos, artificial intelligence and ‘pessimism’ in latest crackdown

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China’s online censors target short videos, artificial intelligence and ‘pessimism’ in latest crackdown

The country’s top censorship body has been running an annual online crackdown known as Qing Lang, which means clear and bright, since 2020. It said this year’s crackdown would benefit people’s mental health and create a healthy space for competition that would help the short video industry develop. The country’s best known short video platform … Read more