Tencent to invest $70 billion in high-tech areas
Tencent, Chinese technology company behind popular messaging service WeChat, will invest 500 billion yuan ($69.9 billion) over the next five years in areas from cloud computing to artificial intelligence, a move boosted by Beijing’s calls to push digital infrastructure. Company also said on Monday it would issue up to $20 billion of new bonds to professional investors to raise capital. Already, $12 billion of bonds under this program are outstanding
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After WeChat ban, some Chinese are shifting to an encrypted app 'Signal'
President Donald Trump’s executive order banning American use of WeChat, the most popular app in China, takes effect next month, but some in China are already turning to an American app renowned for its privacy protections. Downloads for Signal, an encrypted chat app that privacy advocates generally regard as best-in-class for everyday use, are spiking in China, a spokesperson for the app said Friday
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Trump bans US transactions with WeChat and TikTok
US President Donald Trump issued executive orders to ban US transactions with Chinese companies Tencent and Bytedance, parent companies of WeChat, and TikTok respectively. The ban will take effect in 45 days and may attract retaliation from Beijing. While the scope of the ban remains unclear, the executive orders said that after 45 days, Secretary of Commerce Wilbur Ross “shall identify the transactions” that will be subjected to the prohibition
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The US plans a crackdown on the Chinese technology companies
The US Secretary of State, Mike Pompeo said in a statement that Chinese apps like TikTok and WeChat pose "significant threats to the personal data of American citizens". Wednesday's announcement marks a further deterioration in relations between Washington and Beijing. President Donald Trump hinted at a potential ban on apps like TikTok in order to safeguard the security of American users
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BBC
Tencent adds $200 billion this year, now bigger than Facebook
China’s gaming and social media giant Tencent is now more valuable than Facebook, Tencent’s market capitalization has surpassed Facebook’s following a huge rally in the Chinese firm’s shares this year. The total value of publicly traded shares of the Chinese gaming and social media giant that owns WeChat stood at $664.50 billion at around 3:07 p.m. Singapore time. Meanwhile, Facebook’s market cap totaled $656.15 billion as of Tuesday’s close
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