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Trump signs ban on investment in Chinese military-linked firms

Trump signs ban on investment in Chinese military-linked firms

(ATF) US President Donald Trump has signed an amended executive order that bans American companies from investing in Chinese firms affiliated with the People's Liberation Army, the White House said on January 13.The amendments force US companies to completely divest their holdings of securities of blacklisted companies by November 11. …

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Mnuchin saves Alibaba, Baidu and Tencent from Trump ban

Mnuchin saves Alibaba from Trump ban

(ATF) Treasury Secretary Steve Mnuchin has prevailed in his bid to stop Alibaba, Baidu and Tencent being added to a blacklist of firms with Chinese military links, according to news reports on Wednesday January 13. Mnuchin won a battle within the Trump administration against Secretary of State Mike Pompeo and …

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Regulators to press Chinese tech giants to share credit data 

Regulators to press Chinese tech giants to share credit data 

China plans to push tech giants including the Ant Group, Tencent and JD.com to share their consumer loan data in an effort to prevent excess borrowing and fraud.The plan, if implemented, would effectively end the government's laissez-faire approach to the industry, sources claim. Up until now, large internet platforms have …

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Trump Chinese app ban complicates Biden's China policy

Trump Chinese app ban complicates Biden's China policy

(ATF) US President Donald Trump has signed an executive order which aims to ban transactions on eight Chinese software applications, including Ant Group’s Alipay, citing national security concerns.The move seeks to increase pressure on China before the Biden administration takes office, but it may hamper incoming President Joe Biden’s attempts …

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China tech giants told to give jobs back to local grocers

China tech giants told to give jobs back to local grocers

(ATF) China’s market regulators have issued “nine must-not” guidelines to e-commerce giants such as Alibaba, Tencent, and JD.com to crack down on a new social sales model that is taking jobs away from traditional small businesses in a pandemic-stricken economy. These tech giants are in the crosshairs of Beijing’s anti-monopoly …

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Ant and Tencent drop 'bank deposit shopping' as Beijing cracks down

Ant and Tencent drop bank deposit shopping as Beijing cracks down

(ATF) China's leading fintech companies such as Ant Group and Tencent have removed app features that allow users to shop around for bank deposits that offer high rates, amid mounting concern from regulators about their services being a risk to China’s financial stability.This comes after the banking regulator’s clampdown on …

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Beijing out to kill abuses by its tech giants

Beijing out to kill abuses by its tech giants

(ATF) This week "Big data killing" has been a popular topic trending on China’s version of Twitter, and one of the latest targets was Meituan, a taxi-hailing software service that was accused of setting different prices for the same customers.Recently, "big data killing" has been a subject of frequent internet …

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Politburo signals more anti-monopoly scrutiny for China’s internet giants

Politburo signals more anti-monopoly scrutiny for China’s internet giants

(ATF) China has opened a new chapter of stronger regulation over monopolistic practices by internet giants such as Alibaba, Tencent, Meituan and Pinduoduo, as signaled by a recent Politburo meeting, analysts say.The top decision-making body of the of the Communist Party of China (CPC) vowed on Friday to “strengthen anti-monopoly …

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Alibaba, Tencent fined and warned as China ramps up deal scrutiny

Alibaba, Tencent fined and warned as China deal scrutiny

China warned its internet giants on Monday it would not tolerate monopolistic practices and to brace for increased scrutiny, as it slapped fines and announced probes into deals involving Alibaba Group and Tencent Holdings.The State Administration of Market Regulation (SAMR) said it would fine Alibaba, Tencent-backed China Literature and Shenzhen …

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Alibaba, Tencent seen halting talks to buy iQIYI stake

Alibaba, Tencent halt talks to buy iQIYI stake

HONG KONG/BEIJING; Alibaba Group Holding and Tencent Holdings have each held separate talks with Baidu to acquire a controlling stake in video streaming service iQIYI Inc, people with knowledge of the matter told Reuters.But the discussions have stalled with little hope of recommencing soon as they balk at a valuation …

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