Business

Chinese regulators ask government to approve new Tencent apps

Chinese regulators are asking the government to approve any new apps and app updates from Tencent after some Tencent services were accused of violating consumers’ interests, in a fresh blow. for the nation’s most valuable technology company.

China’s Ministry of Industry and Information Technology (MIIT) will temporarily conduct “technology testing” to ensure Tencent’s apps meet its standards before the company can make them available to users. used, state media reported.

The request was issued as soon as China implementation of new data protection law restrict how their technology companies can store and process users’ personal information.

This year MIIT has regularly published lists of applications by various developers that have been found to be infringing on user rights. Nine Tencent apps were named on the ministry’s list, and China’s state broadcaster said the company was “going against the wind of regulation of the industry”.

Tencent has come under the radar of the government this year as antitrust regulators targeted its music unit’s trading and proprietary licensing deals.

Games are also one of Tencent’s core businesses, but in August China imposed New restrictions on child players as part of crackdown campaign in the industry, only allowing them to play three hours a week.

The regulatory cloud slowed the company’s revenue growth in the three months to September, down 13% from 25 and 20% was recorded in the previous two quarters.

Tencent confirmed MIIT’s move in a statement on Wednesday and tried to reassure investors by saying that its existing services are still available.

“We are constantly working to enhance user protection features in our apps and also work regularly with relevant government agencies to ensure regulatory compliance,” the company said. “Our apps are still active and available for download.”

Chinese tech companies have faced a year of regulatory turmoil that began with the cancellation of Jack Ma’s $37 billion initial public offering, Ant Group.

Xi Jinping, the president of China, has launched a Policy “Commonwealth”, which has targeted everything from social inequality to consumer rights.

When Tencent announced its third-quarter business results, company president Martin Lau speak Stricter regulation is the “new normal”, both in China and internationally. The company has said it is “proactively” adopting the new rules in areas of its business, after previously trying to bypass regulators, especially when it comes to gaming. At the beginning of August, Tencent cut down on the playing time of minors on the internet Honor of the Kings, one of its top games.

Although children make up a small portion of their sales, the move to limit playtime by minors has surprised some analysts, who see it as an “extremely restrictive policy.” regime”.

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