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Tencent should get approval from regulators earlier than publishing new apps – EAST AUTO NEWS

Tencent should get approval from regulators earlier than publishing new apps


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

David Kirton | Reuters

GUANGZHOU, China — Tencent should get approval from Chinese language 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 precious know-how firm violated knowledge safety guidelines on a lot of events this yr.

Tencent’s app approvals are at present suspended. China’s Ministry of Trade and Info Expertise should evaluate any new apps and updates earlier than they are often launched. This might take seven days, CCTV reported, with out citing any sources.

“We’re constantly working to boost consumer safety options inside our apps, and now have common cooperation with related authorities companies to make sure regulatory compliance. Our apps stay useful and out there for obtain,” a Tencent spokesperson informed CNBC in a press release.

Tencent shares in Hong Kong have 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 by which algorithms can be utilized.

One of many greatest rules handed this yr was a landmark private knowledge safety regulation. Regulators are focusing closely on how firms are amassing and processing knowledge. The newest actions in opposition to Tencent are a part of that course of.

The newest transfer is one other blow for Tencent which has felt the affect of China’s regulatory crackdown. In August, regulators launched guidelines that restricted youngsters below 18 years outdated to only three hours of on-line video video games every week and through designated home windows. On the time, Tencent mentioned solely a small a part of its income comes from such gamers.

Clampdown on different areas favored 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 progress since going public in 2004, in accordance with Reuters.

Tencent should get approval from regulators earlier than publishing new apps – EAST AUTO NEWS
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