Chinese social media and gaming giant posted its slowest ever growth since going public in 2004. The company grew just 8 per cent in the fourth quarter. This is reflecting regulatory scrutiny which has affected that has hurt its gaming and advertising sales.

China has frozen game approvals since August last year and curtailed gaming time for under-18s, part of Beijing's move to strengthen control over its society and industries including technology, after years of unbridled growth.

This has also led to a slowdown in advertising as businesses have cut spending.

Tencent Holdings, which gets much of its revenue from gaming and develops games such as 'Honour of Kings' and 'Call of Duty Mobile', said domestic gaming sales grew 1% in the quarter ended Dec. 31.

The restrictions on minors were effective as the total time spent by minors on its games sank 88%, Tencent said, adding that the impact of this factor on revenue growth would ease later in the year.

"As we move into the latter half of 2022 it should cease to impact the revenue growth rate," Chief Strategy Officer James Mitchell told reporters on a call on Wednesday, referring to the minor-protection measures.

Tencent President Martin Lau said regulators were still supportive of the gaming industry, adding that the company had a ready pipeline of games for when approvals resumed.

The company, which also posted its slowest ever annual revenue growth at 16%, said revenue in its online advertising business fell 13% in the fourth quarter.

It expects its ad business to resume growth in late 2022 after companies adjust to regulatory requirements.

Total revenue rose to 144.2 billion yuan ($22.63 billion) in the quarter, below an average of 147.6 billion yuan expected by 17 analysts, Refinitiv data showed.

(With inputs from agencies)

Chinese social media and gaming giant posted its slowest ever growth since going public in 2004. The company grew just 8 per cent in the fourth quarter. This is reflecting regulatory scrutiny which has affected that has hurt its gaming and advertising sales.

Chinese social media and gaming giant posted its slowest ever growth since going public in 2004. The company grew just 8 per cent in the fourth quarter. This is reflecting regulatory scrutiny which has affected that has hurt its gaming and advertising sales. China has frozen game approvals since August last year and curtailed gaming time for under-18s, part of Beijing's move to strengthen control over its society and industries including technology, after years of unbridled growth. This has also led to a slowdown in advertising as businesses have cut spending. Tencent Holdings, which gets much of its revenue from gaming and develops games such as 'Honour of Kings' and 'Call of Duty Mobile', said domestic gaming sales grew 1% in the quarter ended Dec. 31. The restrictions on minors were effective as the total time spent by minors on its games sank 88%, Tencent said, adding that the impact of this factor on revenue growth would ease later in the year. "As we move into the latter half of 2022 it should cease to impact the revenue growth rate," Chief Strategy Officer James Mitchell told reporters on a call on Wednesday, referring to the minor-protection measures. Tencent President Martin Lau said regulators were still supportive of the gaming industry, adding that the company had a ready pipeline of games for when approvals resumed. The company, which also posted its slowest ever annual revenue growth at 16%, said revenue in its online advertising business fell 13% in the fourth quarter. It expects its ad business to resume growth in late 2022 after companies adjust to regulatory requirements. Total revenue rose to 144.2 billion yuan ($22.63 billion) in the quarter, below an average of 147.6 billion yuan expected by 17 analysts, Refinitiv data showed. (With inputs from agencies)

Tencent posts slowest-ever sales rise; regulation impact set to ease

The US has included e-commerce sites operated by China's Tencent Holdings and Alibaba group holdings in the notorious markets list.

The US adds China's Tencent & Alibaba sites in the notorious markets list

E-commerce sites operated by China's Tencent Holdings Ltd and Alibaba Group Holding Ltd have been included on the US government's latest "notorious markets" list.

US adds e-commerce sites operated by Tencent, Alibaba to 'notorious markets' list for counterfeit

Amid China's attempt to clamp down on the internet, reports say Gay dating app Grindr has disappeared from app stores in the country.

The app was reportedly taken off last week. However, Grindr competitors are reportedly still available. The app is unavailable on iOS and Android app stores. China had decriminalised homosexuality in 1997 however same-sex marriages continue to be illegal in the country.

Google Play Store does not operate in China with Huawei and Tencent dominating the app marketplace. Ahead of the Winter Olympics, Chinese authorities had announced a crackdown on pornography and related web content.

<a href="https://www.wionews.com/world/ahead-of-lunar-new-year-and-winter-olympics-china-vows-to-purge-internet-447764">Also Read:&nbsp;Ahead of Lunar New Year and Winter Olympics, China vows to 'purge' internet</a>

China has introduced sweeping regulations to clean up the internet even as foreign companies including LinkedIn have&nbsp;pulled out of the country.&nbsp;Epic Games had also shut down its Chinese version of Fortnite last year.

Last week, Chinese internet regulators had issued a notice calling for the protection of minors against food products which reportedly contained hints of pornography marketed as "internet celebrity snacks".&nbsp;

Earlier this month, China's cybersecurity officials had directed app providers to abide by the nation's constitution and regulations and were forbidden to conduct activity which “endangering national security, disrupting social order, or infringing on the legitimate rights and interests of others.”

<a href="https://www.wionews.com/world/china-to-make-internet-giants-take-permission-before-raising-funds-investing-446014">Also Read:&nbsp;China to make internet giants take permission before raising funds, investing</a>

The draft regulation required users of instant message services and apps to authenticate their identity through mobile phones or identity cards.

In another move to regulate the web, the Cyberspace Administration of China (CAC) had issued regulations targeting algorithm recommendations this month. Chinese regulators had earlier fined delivery platform Meituan $533.5 million for "monopolistic practices".

(With inputs from Agencies)

Amid China's attempt to clamp down on the internet, reports say Gay dating app Grindr has disappeared from app stores in the country. The app was reportedly taken off last week.

Amid China's attempt to clamp down on the internet, reports say Gay dating app Grindr has disappeared from app stores in the country. The app was reportedly taken off last week. However, Grindr competitors are reportedly still available. The app is unavailable on iOS and Android app stores. China had decriminalised homosexuality in 1997 however same-sex marriages continue to be illegal in the country. Google Play Store does not operate in China with Huawei and Tencent dominating the app marketplace. Ahead of the Winter Olympics, Chinese authorities had announced a crackdown on pornography and related web content. Also Read: Ahead of Lunar New Year and Winter Olympics, China vows to 'purge' internet China has introduced sweeping regulations to clean up the internet even as foreign companies including LinkedIn have pulled out of the country. Epic Games had also shut down its Chinese version of Fortnite last year. Last week, Chinese internet regulators had issued a notice calling for the protection of minors against food products which reportedly contained hints of pornography marketed as "internet celebrity snacks". Earlier this month, China's cybersecurity officials had directed app providers to abide by the nation's constitution and regulations and were forbidden to conduct activity which “endangering national security, disrupting social order, or infringing on the legitimate rights and interests of others.” Also Read: China to make internet giants take permission before raising funds, investing The draft regulation required users of instant message services and apps to authenticate their identity through mobile phones or identity cards. In another move to regulate the web, the Cyberspace Administration of China (CAC) had issued regulations targeting algorithm recommendations this month. Chinese regulators had earlier fined delivery platform Meituan $533.5 million for "monopolistic practices". (With inputs from Agencies)

Gay dating app Grindr disappears from China's app stores

The first rule of&nbsp;Fight&nbsp;Club&nbsp;in China? Don't mention the original ending. The second rule of&nbsp;Fight&nbsp;Club&nbsp;in China? Change it so the police win.

China has some of the world's most restrictive censorship rules with authorities only approving a handful of foreign films for release each year,&nbsp;sometimes with major cuts.

Among the latest movies to undergo such treatment is David Fincher's 1999 cult classic "Fight&nbsp;Club" starring Brad Pitt and Edward Norton.

<a href="https://www.wionews.com/world/china-spoofs-james-bond-mi6-chief-welcomes-free-publicity-442737">Also read |&nbsp;China spoofs James Bond, MI6 chief welcomes 'free publicity'</a>

Film fans in China noticed over the weekend that a version of the movie newly available on streaming platform Tencent Video was given a makeover that transforms the anarchist, anti-capitalist message that made the film a global hit.&nbsp;

In the closing scenes of the original, Norton's character The Narrator, kills off his imaginary alter ego Tyler Durden,&nbsp;played by Pitt,&nbsp;and then watches multiple buildings explode, suggesting his character's plan to bring down modern civilisation is underway.

But the new version in China has a very different take.

The Narrator still proceeds with killing off Durden, but the exploding building scene is replaced with a black screen and a coda: "The police rapidly figured out the whole plan and arrested all criminals, successfully preventing the bomb from exploding".

It then adds that Tyler,&nbsp;a figment of The Narrator's imagination,&nbsp;was sent to a "lunatic asylum" for psychological treatment and was later discharged.

Also read |&nbsp;<a href="https://www.wionews.com/world/ahead-of-lunar-new-year-and-winter-olympics-china-vows-to-purge-internet-447764">Ahead of Lunar New Year and Winter Olympics, China vows to 'purge' internet</a>

'Too outrageous'&nbsp;

The new ending in which the state triumphs sparked head scratching and outrage among many Chinese viewers,&nbsp;many of whom would likely have seen pirated versions of the unadulterated version film.

"This is too outrageous," one viewer commented on Tencent Video.

"'Fight&nbsp;Club' on Tencent Video tells us that they don't just delete scenes, but add to the plot too," a user wrote on the Twitter-like Weibo platform.

It is not currently clear if government censors ordered the alternative ending or if the original movie's producers made the changes.

Tencent did not comment on the matter.&nbsp;

Hollywood studios often release alternative cuts in the hopes of clearing Beijing's censorship hurdles and getting lucrative access to millions of Chinese consumers.

In 2019, multiple scenes in the film "Bohemian Rhapsody" referencing iconic musician Freddie Mercury's sexuality,&nbsp;a pivotal part of his biography,&nbsp;were dropped in its China release.

Under President Xi Jinping, Chinese authorities have pushed to purge society of elements deemed unhealthy, including within movies, television, computer games.

They have also launched sweeping state crackdowns on tax evasion and perceived immoral behaviour in the entertainment industry, a tightening that has already targeted some of the country's biggest celebrities.

On Tuesday, the Cyberspace Administration of China announced it was launching a month-long "clean" web campaign to create a "civilised and healthy" atmosphere online over the Lunar New Year holiday.

The first rule of Fight Club in China? Don't mention the original ending. The second rule of Fight Club in China? Change it so the police win. China has some of the world's most restrictive censorship rules with authorities only approving a handful of foreign films for release each year, sometimes with major cuts.

The first rule of Fight Club in China? Don't mention the original ending. The second rule of Fight Club in China? Change it so the police win. China has some of the world's most restrictive censorship rules with authorities only approving a handful of foreign films for release each year, sometimes with major cuts. Among the latest movies to undergo such treatment is David Fincher's 1999 cult classic "Fight Club" starring Brad Pitt and Edward Norton. Also read | China spoofs James Bond, MI6 chief welcomes 'free publicity' Film fans in China noticed over the weekend that a version of the movie newly available on streaming platform Tencent Video was given a makeover that transforms the anarchist, anti-capitalist message that made the film a global hit. In the closing scenes of the original, Norton's character The Narrator, kills off his imaginary alter ego Tyler Durden, played by Pitt, and then watches multiple buildings explode, suggesting his character's plan to bring down modern civilisation is underway. But the new version in China has a very different take. The Narrator still proceeds with killing off Durden, but the exploding building scene is replaced with a black screen and a coda: "The police rapidly figured out the whole plan and arrested all criminals, successfully preventing the bomb from exploding". It then adds that Tyler, a figment of The Narrator's imagination, was sent to a "lunatic asylum" for psychological treatment and was later discharged. Also read | Ahead of Lunar New Year and Winter Olympics, China vows to 'purge' internet 'Too outrageous' The new ending in which the state triumphs sparked head scratching and outrage among many Chinese viewers, many of whom would likely have seen pirated versions of the unadulterated version film. "This is too outrageous," one viewer commented on Tencent Video. "'Fight Club' on Tencent Video tells us that they don't just delete scenes, but add to the plot too," a user wrote on the Twitter-like Weibo platform. It is not currently clear if government censors ordered the alternative ending or if the original movie's producers made the changes. Tencent did not comment on the matter. Hollywood studios often release alternative cuts in the hopes of clearing Beijing's censorship hurdles and getting lucrative access to millions of Chinese consumers. In 2019, multiple scenes in the film "Bohemian Rhapsody" referencing iconic musician Freddie Mercury's sexuality, a pivotal part of his biography, were dropped in its China release. Under President Xi Jinping, Chinese authorities have pushed to purge society of elements deemed unhealthy, including within movies, television, computer games. They have also launched sweeping state crackdowns on tax evasion and perceived immoral behaviour in the entertainment industry, a tightening that has already targeted some of the country's biggest celebrities. On Tuesday, the Cyberspace Administration of China announced it was launching a month-long "clean" web campaign to create a "civilised and healthy" atmosphere online over the Lunar New Year holiday.

China gives 'Fight Club' new ending where authorities win

Popular Chinese messaging app WeChat blocked the account of Australian Prime Minister Scott Morrison amid diplomatic tensions between the two nations.

Morrison's office lost access to the account on the platform, owned by Chinese tech giant Tencent Holdings Ltd and claimed the move represented censorship.

Also read |&nbsp;<a href="https://www.wionews.com/world/china-to-make-internet-giants-take-permission-before-raising-funds-investing-446014" hreflang="en">China to make internet giants take permission before raising funds, investing</a>

“My view is given that WeChat is such a closely controlled company by the Chinese Communist Party, that this amounts to foreign interference in our democracy and in an election year no less,” said Senator James Paterson, chair of the Parliamentary Joint Committee on Intelligence and Security.

“What the Chinese government has done by shutting down an Australian account is foreign interference of Australian democracy in an election year,” Paterson said.

"Based on our information, this appears to be a dispute over account ownership,&nbsp;the account in question was originally registered by a PRC individual and was subsequently transferred to its current operator, a technology services company," a Tencent spokesman said.

<a href="https://www.wionews.com/world/with-eye-on-china-australia-spends-35-billion-to-purchase-120-tanks-from-us-443994">Also read |&nbsp;With eye on China, Australia spends $3.5 billion to purchase 120 tanks from US</a>

In Beijing, China's foreign ministry spokesman Zhao Lijian told a regular press conference on Monday that, "The issue of Australian politicians' WeChat accounts is between them and WeChat."

Morrison's account on the Chinese social media app, which was launched in February 2019, appears to have been replaced with one titled "Australian Chinese new life."

Its new Chinese owner, Fuzhou 985 Technology, said it wanted to buy an account with a large fanbase in Australia and was unaware it belonged to Morrison.&nbsp;The company is based in Fujian province.

The account, which bore Morrison's photograph and posted information on his policies in Mandarin targeted at Australian voters of Chinese ethnic origin, had 76,000 followers.

Morrison has had a vexed relationship with China since he replaced Malcolm Turnbull as prime minister in 2018.

The Chinese have been critical of a new partnership involving Australia, Britain and the United States announced in September under which Australia will be provided with nuclear-powered submarines.

(With inputs from agencies)

Popular Chinese messaging app WeChat blocked the account of Australian Prime Minister Scott Morrison amid diplomatic tensions between the two nations. Morrison's office lost access to the account on the platform, owned by Chinese tech giant Tencent Holdings Ltd and claimed the move represented censorship.

Popular Chinese messaging app WeChat blocked the account of Australian Prime Minister Scott Morrison amid diplomatic tensions between the two nations. Morrison's office lost access to the account on the platform, owned by Chinese tech giant Tencent Holdings Ltd and claimed the move represented censorship. Also read | China to make internet giants take permission before raising funds, investing “My view is given that WeChat is such a closely controlled company by the Chinese Communist Party, that this amounts to foreign interference in our democracy and in an election year no less,” said Senator James Paterson, chair of the Parliamentary Joint Committee on Intelligence and Security. “What the Chinese government has done by shutting down an Australian account is foreign interference of Australian democracy in an election year,” Paterson said. "Based on our information, this appears to be a dispute over account ownership, the account in question was originally registered by a PRC individual and was subsequently transferred to its current operator, a technology services company," a Tencent spokesman said. Also read | With eye on China, Australia spends $3.5 billion to purchase 120 tanks from US In Beijing, China's foreign ministry spokesman Zhao Lijian told a regular press conference on Monday that, "The issue of Australian politicians' WeChat accounts is between them and WeChat." Morrison's account on the Chinese social media app, which was launched in February 2019, appears to have been replaced with one titled "Australian Chinese new life." Its new Chinese owner, Fuzhou 985 Technology, said it wanted to buy an account with a large fanbase in Australia and was unaware it belonged to Morrison. The company is based in Fujian province. The account, which bore Morrison's photograph and posted information on his policies in Mandarin targeted at Australian voters of Chinese ethnic origin, had 76,000 followers. Morrison has had a vexed relationship with China since he replaced Malcolm Turnbull as prime minister in 2018. The Chinese have been critical of a new partnership involving Australia, Britain and the United States announced in September under which Australia will be provided with nuclear-powered submarines. (With inputs from agencies)

Chinese tech giant Tencent's WeChat blocks account of Australian Prime Minister Scott Morrison

Tech behemoth Tencent Holdings has been asked by the Chinese authorities to get approval from them for inspections before sending app updates, state broadcaster CCTV said.

According to reports, the company must submit any new apps or updates for inspection by the Ministry of Industry and Information Technology before they can be uploaded or updated.

The move from the Chinese government comes after nine of the group’s apps were found to have committed “violations” since the beginning of the year, prompting the need for “transitional administrative guidance measures”, CCTV quoted the government as saying.

"After passing inspection, they can then be launched to users as usual,” the ministry said, according to CCTV in a report Wednesday.

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/hyundai-tencent-to-develop-software-for-driverless-cars-report-208310">Hyundai, Tencent to develop software for driverless cars: Report</a>

Meanwhile, Tencent told AFP that it would comply with the requirements.

“We are continuously working to enhance user protection features within our apps, and also have regular co-operation with relevant government agencies to ensure regulatory compliance. Our apps remain functional and available for download,” it said.

Also read |&nbsp;<a href="https://www.wionews.com/world/china-summons-alibaba-tencent-and-others-over-deep-fakes-internet-security-371351">China summons Alibaba, Tencent and others over 'deep fakes', internet security</a>

Tencent’s most popular apps include the instant messengers Tencent QQ and WeChat, and one of the largest web portals, QQ.com.

It also has a majority stake in popular games like PUNBG and Clash of Clans.

Chinese regulators have in over the past year mounted a wide-ranging crackdown on its tech giants, seeking to dismantle some of the industry's long-held practices after accusing them of monopolistic behaviour and infringing user rights.

This month, Tencent reported its slowest revenue growth since 2004.

(With inputs from agencies)

Tech behemoth Tencent Holdings has been asked by the Chinese authorities to get approval from them for inspections before sending app updates, state broadcaster CCTV said.

Tech behemoth Tencent Holdings has been asked by the Chinese authorities to get approval from them for inspections before sending app updates, state broadcaster CCTV said. According to reports, the company must submit any new apps or updates for inspection by the Ministry of Industry and Information Technology before they can be uploaded or updated. The move from the Chinese government comes after nine of the group’s apps were found to have committed “violations” since the beginning of the year, prompting the need for “transitional administrative guidance measures”, CCTV quoted the government as saying. "After passing inspection, they can then be launched to users as usual,” the ministry said, according to CCTV in a report Wednesday. Also read | Hyundai, Tencent to develop software for driverless cars: Report Meanwhile, Tencent told AFP that it would comply with the requirements. “We are continuously working to enhance user protection features within our apps, and also have regular co-operation with relevant government agencies to ensure regulatory compliance. Our apps remain functional and available for download,” it said. Also read | China summons Alibaba, Tencent and others over 'deep fakes', internet security Tencent’s most popular apps include the instant messengers Tencent QQ and WeChat, and one of the largest web portals, QQ.com. It also has a majority stake in popular games like PUNBG and Clash of Clans. Chinese regulators have in over the past year mounted a wide-ranging crackdown on its tech giants, seeking to dismantle some of the industry's long-held practices after accusing them of monopolistic behaviour and infringing user rights. This month, Tencent reported its slowest revenue growth since 2004. (With inputs from agencies)

Chinese regulators tell Tencent to get approval before launching apps, updates

In Pics| China's rich list: Jack Ma drops, TikTok founder moves up

According to reports, <a href="https://www.wionews.com/world/biden-says-china-still-withholding-critical-info-on-covid-origins-409068">China </a>has ordered private firms to migrate from its cloud services into the government's infrastructure.

Tech giants Alibaba and Tencent have reportedly been asked to ensure the data migration process by the assets supervision and administration commission.

The assets watchdog has reportedly asked the private players not to build data centres or buy new servers,&nbsp;&nbsp;a&nbsp;report claimed.

Watch:

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/world-business-watch-chinas-industrial-profit-growth-slows-on-delta-outbreak-floods-high-costs-408764/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

The move is likely to hit Huawei, <a href="https://www.wionews.com/world/china-warns-34-tech-firms-to-rectify-any-anti-competitive-measures-after-record-alibaba-fine-377323">Alibaba</a> and Tencent. The government-run cloud service is called "Guoziyun" which means "state asset cloud".

All data will should be&nbsp;moved by&nbsp;September 30, 2022, according to the assets watchdog.

"As of today, all companies should not sign new contracts with third-party cloud platforms, or continue cloud resource rental agreements," a document from the watchdog said.

A report had claimed earlier that China planned to block tech firms with large amounts of sensitive user data from listing abroad in a move intended to ensure regulatory clampdown on private industries.

The Wall Street Journal report said Chinese firms in less sensitive sectors would also need regulatory approval to list abroad.

Chinese authorities had earlier investigated ride-hailing giant Didi Chuxing for "cybersecurity issues" after it was listed in the New York stock exchange.

Reports said firms with over a million users need to seek regulatory approval before listing abroad.

Last week China had passed the new online privacy law asking firms to reduce data collection and obtain user consent. The law aimed to crackdown on firms allegedly profiting over personal data. The new law is reportedly modelled on European Union's General Data Protection Regulation.

Chinese firms have raised billions in the US markets, however, the move by authorities is being seen as a policy to tighten control over Chinese IPOs in America.

(With inputs from Agencies)

According to reports, China has ordered private firms to migrate from its cloud services into the government's infrastructure. Tech giants Alibaba and Tencent have reportedly been asked to ensure the data migration process by the assets supervision and administration commission.

According to reports, China has ordered private firms to migrate from its cloud services into the government's infrastructure. Tech giants Alibaba and Tencent have reportedly been asked to ensure the data migration process by the assets supervision and administration commission. The assets watchdog has reportedly asked the private players not to build data centres or buy new servers, a report claimed. Watch: The move is likely to hit Huawei, Alibaba and Tencent. The government-run cloud service is called "Guoziyun" which means "state asset cloud". All data will should be moved by September 30, 2022, according to the assets watchdog. "As of today, all companies should not sign new contracts with third-party cloud platforms, or continue cloud resource rental agreements," a document from the watchdog said. A report had claimed earlier that China planned to block tech firms with large amounts of sensitive user data from listing abroad in a move intended to ensure regulatory clampdown on private industries. The Wall Street Journal report said Chinese firms in less sensitive sectors would also need regulatory approval to list abroad. Chinese authorities had earlier investigated ride-hailing giant Didi Chuxing for "cybersecurity issues" after it was listed in the New York stock exchange. Reports said firms with over a million users need to seek regulatory approval before listing abroad. Last week China had passed the new online privacy law asking firms to reduce data collection and obtain user consent. The law aimed to crackdown on firms allegedly profiting over personal data. The new law is reportedly modelled on European Union's General Data Protection Regulation. Chinese firms have raised billions in the US markets, however, the move by authorities is being seen as a policy to tighten control over Chinese IPOs in America. (With inputs from Agencies)

Now, China asks private firms to migrate data to government-run cloud services

China's crackdown on Chinese tech giants is intensifying. Tencent lost almost $60 billion dollars after a state media outlet called online games "electronic drugs" and "spiritual opium".

Gravitas: An article leads to a $60 billion loss for Tencent

Beijing tightened its rules on the big tech in the country. The state media has labelled online games as 'electronic drugs.'

Beijing tightens rules on big tech in China, calls online games as 'electronic drugs'

China's Tencent Holdings Ltd said on Tuesday it would curb minors' access to its flagship video game, hours after its shares were battered by a state media article that described online games as "spiritual opium".

Economic Information Daily cited Tencent's "Honor of Kings" in an article in which it said minors were addicted to online games and called for more curbs on the industry. The outlet is affiliated with China's biggest state-run news agency, Xinhua.

China's largest social media and video game firm saw its stock tumble more than 10% in early trade, wiping almost $60 billion from its market capitalisation. The stock was on track to fall the most in a decade before trimming losses after the article vanished from the outlet's website and WeChat account.

The broadside comes days after the securities regulator and state media sought to soothe investor fears over the pace and breadth of market reform that sparked a selloff in technology and private education. The CSI300 index last week fell more than 5% for its biggest monthly loss since October 2018.

The attack on the video game sector put investors back on edge.

"News once again caused market concerns about industry regulation," said Everbright Sun Hung Kai analyst Kenny Ng.

"Under this circumstance, it is expected that game stocks and even the overall technology stocks will still face continuous adjustment pressure," he said, adding focus will shift to whether firms change their policies for minors' access.

In the article, the newspaper singled out "Honor of Kings" as the most popular online game among students who, it said, played for up to eight hours a day.

"No industry, no sport, can be allowed to develop in a way that will destroy a generation," the newspaper said, likening online video games to "electronic drugs".

Tencent in a statement said it will introduce measures to reduce minors' access to and time spent on games. It also called for an industry ban on gaming for children under 12 years old.

The company did not address the article in its statement, nor did it respond to a Reuters request for comment.

The article also hit rivals' shares. NetEase Inc dropped more than 15% before paring losses to sit around 8% lower in late afternoon trade. Game developer XD Inc fell 8.2% and mobile gaming company GMGE Technology Group Ltd dropped 15.6%.

Outside of gaming, investors were also caught off-guard by the State Administration For Market Regulation (SAMR) on Tuesday saying it would investigate auto chip distributors and punish any hoarding, collusion and price-gouging. The semiconductor stock index subsequently fell more than 6%.

CHILD WELLBEING

A separate opinion piece published by the China News Service on its official Twitter-like Weibo account hours after the Economic Information Daily article took a different tone, saying that blame could not be placed on anyone party, including game developers, for child addiction to online video games.

"Schools, game developers, parents, and other parties need to work together," said the news outlet, which is also state-run.

Chinese regulators have since 2017 sought to limit the number of time minors spend playing video games and companies including Tencent already have anti-addiction systems that they say cap young users' game time.

But authorities have in recent months placed a fresh focus on protecting child wellbeing, and said they want to further strengthen rules around online gaming and education. Last month, they banned for-profit tutoring in core school subjects, attacking China's $120 billion private tutoring sector.

That added to other regulatory actions in the technology industry, including a ban on Tencent from exclusive music copyright agreements and a fine for unfair market practices.

At one point on Tuesday, Tencent was briefly de-throned as Asia's most valuable firm by market capitalisation by chipmaker Taiwan Semiconductor Manufacturing Co Ltd.

"It showed how investors are jumpy these days. They don't believe anything is off limit and will react, sometimes over-react, to anything on state media that fits the tech crackdown narrative," said Ether Yin, partner at Beijing-based consultancy Trivium.

"Government will not and can not get rid of the gaming industry... Restrictions will stay but not much room to go tighter," he said.

China's Tencent Holdings Ltd said on Tuesday it would curb minors' access to its flagship video game, hours after its shares were battered by a state media article that described online games as "spiritual opium".

China's Tencent Holdings Ltd said on Tuesday it would curb minors' access to its flagship video game, hours after its shares were battered by a state media article that described online games as "spiritual opium". Economic Information Daily cited Tencent's "Honor of Kings" in an article in which it said minors were addicted to online games and called for more curbs on the industry. The outlet is affiliated with China's biggest state-run news agency, Xinhua. China's largest social media and video game firm saw its stock tumble more than 10% in early trade, wiping almost $60 billion from its market capitalisation. The stock was on track to fall the most in a decade before trimming losses after the article vanished from the outlet's website and WeChat account. The broadside comes days after the securities regulator and state media sought to soothe investor fears over the pace and breadth of market reform that sparked a selloff in technology and private education. The CSI300 index last week fell more than 5% for its biggest monthly loss since October 2018. The attack on the video game sector put investors back on edge. "News once again caused market concerns about industry regulation," said Everbright Sun Hung Kai analyst Kenny Ng. "Under this circumstance, it is expected that game stocks and even the overall technology stocks will still face continuous adjustment pressure," he said, adding focus will shift to whether firms change their policies for minors' access. In the article, the newspaper singled out "Honor of Kings" as the most popular online game among students who, it said, played for up to eight hours a day. "No industry, no sport, can be allowed to develop in a way that will destroy a generation," the newspaper said, likening online video games to "electronic drugs". Tencent in a statement said it will introduce measures to reduce minors' access to and time spent on games. It also called for an industry ban on gaming for children under 12 years old. The company did not address the article in its statement, nor did it respond to a Reuters request for comment. The article also hit rivals' shares. NetEase Inc dropped more than 15% before paring losses to sit around 8% lower in late afternoon trade. Game developer XD Inc fell 8.2% and mobile gaming company GMGE Technology Group Ltd dropped 15.6%. Outside of gaming, investors were also caught off-guard by the State Administration For Market Regulation (SAMR) on Tuesday saying it would investigate auto chip distributors and punish any hoarding, collusion and price-gouging. The semiconductor stock index subsequently fell more than 6%. CHILD WELLBEING A separate opinion piece published by the China News Service on its official Twitter-like Weibo account hours after the Economic Information Daily article took a different tone, saying that blame could not be placed on anyone party, including game developers, for child addiction to online video games. "Schools, game developers, parents, and other parties need to work together," said the news outlet, which is also state-run. Chinese regulators have since 2017 sought to limit the number of time minors spend playing video games and companies including Tencent already have anti-addiction systems that they say cap young users' game time. But authorities have in recent months placed a fresh focus on protecting child wellbeing, and said they want to further strengthen rules around online gaming and education. Last month, they banned for-profit tutoring in core school subjects, attacking China's $120 billion private tutoring sector. That added to other regulatory actions in the technology industry, including a ban on Tencent from exclusive music copyright agreements and a fine for unfair market practices. At one point on Tuesday, Tencent was briefly de-throned as Asia's most valuable firm by market capitalisation by chipmaker Taiwan Semiconductor Manufacturing Co Ltd. "It showed how investors are jumpy these days. They don't believe anything is off limit and will react, sometimes over-react, to anything on state media that fits the tech crackdown narrative," said Ether Yin, partner at Beijing-based consultancy Trivium. "Government will not and can not get rid of the gaming industry... Restrictions will stay but not much room to go tighter," he said.

Tencent vows fresh gaming curbs after 'spiritual opium' attack zaps $60 billion

Chinese tech giant Tencent's WeChat social media platform has deleted dozens of LGBT accounts run by university students, saying some had broken rules on information on the internet, sparking fear of a crackdown on gay content online.

The WeChat pages&nbsp;of groups, including Huazhong University of Science and&nbsp;Technology&nbsp;Gay Pride and Peking University's ColorsWorld, had their past posts scrubbed and replaced with a notice stating: "all content has been blocked and the use of the account has been stopped" for violations of unspecified social media regulations.

The brief notices said WeChat had received "complaints" about the pages, while the groups' account names had been changed to "Unnamed Account" on Tuesday, based on&nbsp;publicly visible account records.

Super-app WeChat is China's biggest social media platform, with instant messaging, blogs, and other content, as well as the ability to make payments.

While homosexuality, which was classified as a mental disorder until 2001, is legal in&nbsp;China, same-sex marriage is not recognised. Social stigma and pressure still deter people from coming out.

This year, a court upheld a university's description of homosexuality as a "psychological disorder", ruling that it was not a factual error.&nbsp;

The LGBT community has repeatedly found itself falling foul of censors and the Cyberspace Administration of&nbsp;China&nbsp;recently pledged to clean up the internet to protect minors and crack down on social media groups deemed a "bad influence".

The Weibo social media platform, owned by Weibo Corp, has at times removed lesbian content and the online community board platform Zhihu has censored topics on gender and identity.

Last year,&nbsp;China's only pride festival was cancelled indefinitely after organisers cited concerns over staff safety.

"Authorities have been tightening the space available for LGBT advocacy and civil society generally. This is another turning of the&nbsp;screw,”&nbsp;said Darius Longarino, a senior fellow at Yale Law School's Paul Tsai's&nbsp;China&nbsp;Center, who focuses on LGBT rights and gender equality.

(With inputs from agencies)

Chinese tech giant Tencent's WeChat social media platform has deleted dozens of LGBT accounts run by university students, saying some had broken rules on information on the internet, sparking fear of a crackdown on gay content online.

Chinese tech giant Tencent's WeChat social media platform has deleted dozens of LGBT accounts run by university students, saying some had broken rules on information on the internet, sparking fear of a crackdown on gay content online. The WeChat pages of groups, including Huazhong University of Science and Technology Gay Pride and Peking University's ColorsWorld, had their past posts scrubbed and replaced with a notice stating: "all content has been blocked and the use of the account has been stopped" for violations of unspecified social media regulations. The brief notices said WeChat had received "complaints" about the pages, while the groups' account names had been changed to "Unnamed Account" on Tuesday, based on publicly visible account records. Super-app WeChat is China's biggest social media platform, with instant messaging, blogs, and other content, as well as the ability to make payments. While homosexuality, which was classified as a mental disorder until 2001, is legal in China, same-sex marriage is not recognised. Social stigma and pressure still deter people from coming out. This year, a court upheld a university's description of homosexuality as a "psychological disorder", ruling that it was not a factual error. The LGBT community has repeatedly found itself falling foul of censors and the Cyberspace Administration of China recently pledged to clean up the internet to protect minors and crack down on social media groups deemed a "bad influence". The Weibo social media platform, owned by Weibo Corp, has at times removed lesbian content and the online community board platform Zhihu has censored topics on gender and identity. Last year, China's only pride festival was cancelled indefinitely after organisers cited concerns over staff safety. "Authorities have been tightening the space available for LGBT advocacy and civil society generally. This is another turning of the screw,” said Darius Longarino, a senior fellow at Yale Law School's Paul Tsai's China Center, who focuses on LGBT rights and gender equality. (With inputs from agencies)

China deletes LGBTQ university accounts from biggest social media app Wechat

Most of us wear blue jeans on a regular basis without giving a second thought. However, years ago, blue jeans was a symbol of freedom.

It penetrated the Soviet Union's iron curtain and in many ways, denim mobilised people in a closed communist country.

Watch |&nbsp;

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-china-takes-on-homegrown-internet-titans-381522/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

The story comes into relevance now as another communist nation is facing its blue jeans moment and it is responding with ruthlessness.

In this case, the soviet union is a metaphor for China and the blue jeans are symbolic for big tech giants.

For years, Beijing indulged companies such as Alibaba, Tencent, and Baidu. They were advertised as Chinese success stories and companies that could compete with their western rivals, but now all of a sudden they are public enemy number one.

What changed?

Chinese tech giants became too big for their own good. Their influence over the Chinese middle class expanded and their CEOs became celebrities. They were inviting Hollywood stars to corporate events.

However, in China, there is only one alpha —the communist party.

Beijing wanted to cultivate these tech companies as extended arms of the state. However, when things moved in the opposite direction, they cracked down and the first victim was Alibaba.

Alibaba

Its owner, Jack Ma, made a cardinal sin last year as he criticised Chinese regulators. The response was swift. Beijing blocked the IPO of Jack Ma's Ant group. The company was asked to restructure itself as a financial holding company — meaning China's central bank will now oversee the Ant group.

Then, earlier this month, they imposed a record fine on Alibaba. The company had to pay $2.75 billion. Usually, firms contest such penalties and call them unfair and steep. However, Alibaba did neither. They accepted the fine and moved on.

Tencent

A tech giant valued at $776 billion dollars, reports claim China is preparing a substantial fine for Tencent —almost $1.54 billion dollars (10 billion yuan).

The charges range from not reporting acquisitions to anti-competitive practices.

There is no arithmetic logic to the high value of the fine because as per China, the fine must be high enough to set an example. For Alibaba, it was $2.75 billion and for Tencent,&nbsp;it is $1.54 billion.

What's unfolding in China is a battle for influence. This is a country that is built around a single party. The party decides what you eat, what you wear and how you live. It is used to having unlimited control over people's lives.

However, this changed with the arrival of big tech companies that created an alternative world for the Chinese and introduced people to social media, e-commerce, and internet gaming.

As it turned out, this virtual world was a lot more egalitarian and the Chinese citizens loved it, as opposed to their government.

This issue basically boils down to insecurity. The communist party is insecure about the virtual world as it wants to dominate public life once again and the strategy it has chosen is to villainise tech giants.

China’s plans seem to be working, till now, as earlier this month more than 30 Chinese tech companies made a pledge of allegiance to Beijing. They promised to reform themselves and fall in line.

The tech giants are scared of the party because in China politics and economics are two sides of the same coin and this coin is minted by the communist party.

Bringing back the example of blue jeans, if you go to Russia today, everyone is wearing blue jeans because freedom is intoxicating.

Thanks to tech giants, the Chinese people have seen what a free world looks like. So, Beijing is pushing back and it is the most ironic push back ever. A party that has monopolised politics wants to break up monopolies.

A party that snoops on its citizens wants companies to turn off the tracker and a party that rubbishes international laws wants companies to respect regulations. It is the hypocrisy of the highest order.

Most of us wear blue jeans on a regular basis without giving a second thought. However, years ago, blue jeans was a symbol of freedom. It penetrated the Soviet Union's iron curtain and in many ways, denim mobilised people in a closed communist country.

Most of us wear blue jeans on a regular basis without giving a second thought. However, years ago, blue jeans was a symbol of freedom. It penetrated the Soviet Union's iron curtain and in many ways, denim mobilised people in a closed communist country. Watch | The story comes into relevance now as another communist nation is facing its blue jeans moment and it is responding with ruthlessness. In this case, the soviet union is a metaphor for China and the blue jeans are symbolic for big tech giants. For years, Beijing indulged companies such as Alibaba, Tencent, and Baidu. They were advertised as Chinese success stories and companies that could compete with their western rivals, but now all of a sudden they are public enemy number one. What changed? Chinese tech giants became too big for their own good. Their influence over the Chinese middle class expanded and their CEOs became celebrities. They were inviting Hollywood stars to corporate events. However, in China, there is only one alpha —the communist party. Beijing wanted to cultivate these tech companies as extended arms of the state. However, when things moved in the opposite direction, they cracked down and the first victim was Alibaba. Alibaba Its owner, Jack Ma, made a cardinal sin last year as he criticised Chinese regulators. The response was swift. Beijing blocked the IPO of Jack Ma's Ant group. The company was asked to restructure itself as a financial holding company — meaning China's central bank will now oversee the Ant group. Then, earlier this month, they imposed a record fine on Alibaba. The company had to pay $2.75 billion. Usually, firms contest such penalties and call them unfair and steep. However, Alibaba did neither. They accepted the fine and moved on. Tencent A tech giant valued at $776 billion dollars, reports claim China is preparing a substantial fine for Tencent —almost $1.54 billion dollars (10 billion yuan). The charges range from not reporting acquisitions to anti-competitive practices. There is no arithmetic logic to the high value of the fine because as per China, the fine must be high enough to set an example. For Alibaba, it was $2.75 billion and for Tencent, it is $1.54 billion. What's unfolding in China is a battle for influence. This is a country that is built around a single party. The party decides what you eat, what you wear and how you live. It is used to having unlimited control over people's lives. However, this changed with the arrival of big tech companies that created an alternative world for the Chinese and introduced people to social media, e-commerce, and internet gaming. As it turned out, this virtual world was a lot more egalitarian and the Chinese citizens loved it, as opposed to their government. This issue basically boils down to insecurity. The communist party is insecure about the virtual world as it wants to dominate public life once again and the strategy it has chosen is to villainise tech giants. China’s plans seem to be working, till now, as earlier this month more than 30 Chinese tech companies made a pledge of allegiance to Beijing. They promised to reform themselves and fall in line. The tech giants are scared of the party because in China politics and economics are two sides of the same coin and this coin is minted by the communist party. Bringing back the example of blue jeans, if you go to Russia today, everyone is wearing blue jeans because freedom is intoxicating. Thanks to tech giants, the Chinese people have seen what a free world looks like. So, Beijing is pushing back and it is the most ironic push back ever. A party that has monopolised politics wants to break up monopolies. A party that snoops on its citizens wants companies to turn off the tracker and a party that rubbishes international laws wants companies to respect regulations. It is the hypocrisy of the highest order.

As tech giants introduce people to freedom, China rushes to impose fine

China is poised to slap a $1.54 billion fine on Tencent over charges of anti-competitive actions. It is part of Beijing's crackdown on homegrown internet titans. WION's Palki tells you how an insecure Communist party is targeting the likes of Alibaba & Tencent.

Gravitas: China takes on homegrown internet titans

Tencent should expect a penalty of at least C¥10-billion (US$1.54-billion), significant enough for the State Administration of Market Regulation (SAMR) to make an example of it, both people said.

China readies Tencent penalty in antitrust crackdown

A report by an environmental group Greenpeace on Wednesday said that China's tech organisations are not adopting clean energy "fast enough" to show their commitment towards carbon neutrality.&nbsp;

The report by Greenpeace said that China's data centre sector is a main and rising source of CO2 emissions and the energy consumption from this industry is on course to rise 66 per cent between 2019 and 2023.&nbsp;

Watch |&nbsp;

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In 2018, Chinese data centres were 73 per cent powered by coal, the report said, adding that by 2023, the electricity consumption from the sector is set to compete with Australia.&nbsp;

However, in Greenpeace's latest rankings, Chinese gaming giant Tencent took the top spot in the country's tech sector amongst the cloud providers to tackle carbon emissions and procuring from renewable sources.

Also read | <a href="https://www.wionews.com/world/eu-clinches-deal-on-climate-law-tougher-2030-emissions-goal-378968">EU clinches deal on climate law, tougher 2030 emissions goal</a>

Thirteen of China's 22 biggest tech companies have now agreed to actively procure renewable energy, a significant rise from just eight companies in 2019.&nbsp;

However, the report said that only two out of these companies, namely Baidu and Chindata have renewable energy usage rates of more than three per cent.&nbsp;

Greenpeace urged internet and data centre organisations to target 100 per cent renewable energy use and aim carbon neutrality by the end of 2030.&nbsp;

A report by an environmental group Greenpeace on Wednesday said that China's tech organisations are not adopting clean energy "fast enough" to show their commitment towards carbon neutrality.

A report by an environmental group Greenpeace on Wednesday said that China's tech organisations are not adopting clean energy "fast enough" to show their commitment towards carbon neutrality. The report by Greenpeace said that China's data centre sector is a main and rising source of CO2 emissions and the energy consumption from this industry is on course to rise 66 per cent between 2019 and 2023. Watch | In 2018, Chinese data centres were 73 per cent powered by coal, the report said, adding that by 2023, the electricity consumption from the sector is set to compete with Australia. However, in Greenpeace's latest rankings, Chinese gaming giant Tencent took the top spot in the country's tech sector amongst the cloud providers to tackle carbon emissions and procuring from renewable sources. Also read | EU clinches deal on climate law, tougher 2030 emissions goal Thirteen of China's 22 biggest tech companies have now agreed to actively procure renewable energy, a significant rise from just eight companies in 2019. However, the report said that only two out of these companies, namely Baidu and Chindata have renewable energy usage rates of more than three per cent. Greenpeace urged internet and data centre organisations to target 100 per cent renewable energy use and aim carbon neutrality by the end of 2030.

Chinese tech firms not adopting clean energy 'fast enough' to show commitment: Greenpeace

Prime Minister Narendra Modi formally inaugurated the Integrated Check Post of the <a href="https://www.wionews.com/india-news/pm-modi-thanks-imran-khan-niazi-for-respecting-sentiments-of-india-260939">Kartarpur Corridor</a> on Saturday.

Modi was accompanied by Punjab Chief Minister Captain Amarinder Singh, Union Ministers Hardeep Singh Puri and Harsimrat Kaur Badal and actor and Gurdaspur lawmaker Sunny Deol at the inauguration.

The Integrated Check Post or the passenger terminal building is where pilgrims will get clearance to travel through the newly-built corridor.

The check post will facilitate Indian pilgrims to visit Gurudwara Kartapur Sahib in Pakistan.

The opening of the corridor, which connects Dera Baba Nanak shrine in Gurdaspur district of Punjab to Gurdwara Kartarpur Sahib in Pakistan, comes days before the 550th birth anniversary of the founder of Sikhism, Guru Nanak Dev, on November 12.

Before heading for Dera Baba Nanak, the Prime Minister paid obeisance at historic Ber Sahib Gurdwara at Sultanpur Lodhi.

At the gurdwara, PM Modi was received by former Shiromani Gurdwara Prabandhak Committee chief Jagir Kaur, who is in-charge of celebrations of the 550th birth anniversary of Sikhism`s founder Guru Nanak Dev. The Prime Minister was presented a `siropa` (robe of honour) by Kaur on behalf of the SGPC.&nbsp;

 
&nbsp;

Prime Minister Narendra Modi formally inaugurated the Integrated Check Post of the Kartarpur Corridor on Saturday. Modi was accompanied by Punjab Chief Minister Captain Amarinder Singh, Union Ministers Hardeep Singh Puri and Harsimrat Kaur Badal and actor and Gurdaspur lawmaker Sunny Deol at the inauguration.

Prime Minister Narendra Modi formally inaugurated the Integrated Check Post of the Kartarpur Corridor on Saturday. Modi was accompanied by Punjab Chief Minister Captain Amarinder Singh, Union Ministers Hardeep Singh Puri and Harsimrat Kaur Badal and actor and Gurdaspur lawmaker Sunny Deol at the inauguration. The Integrated Check Post or the passenger terminal building is where pilgrims will get clearance to travel through the newly-built corridor. The check post will facilitate Indian pilgrims to visit Gurudwara Kartapur Sahib in Pakistan. The opening of the corridor, which connects Dera Baba Nanak shrine in Gurdaspur district of Punjab to Gurdwara Kartarpur Sahib in Pakistan, comes days before the 550th birth anniversary of the founder of Sikhism, Guru Nanak Dev, on November 12. Before heading for Dera Baba Nanak, the Prime Minister paid obeisance at historic Ber Sahib Gurdwara at Sultanpur Lodhi. At the gurdwara, PM Modi was received by former Shiromani Gurdwara Prabandhak Committee chief Jagir Kaur, who is in-charge of celebrations of the 550th birth anniversary of Sikhism`s founder Guru Nanak Dev. The Prime Minister was presented a `siropa` (robe of honour) by Kaur on behalf of the SGPC.

E-commerce firm Pinduoduo's founder Colin Huang departs

Chinese regulators have fined 12 companies. A report claims Alibaba is being asked to sell its media assets. Brands like BMW and Kohler are being criticised for using facial recognition technology. WION's Palki Sharma tells you more about China's big business crackdown.

Gravitas: Big business faces a crackdown in China

China is extending its crackdown and tech giants worry about their growing influence. Now Tencent's holding shed about $60 Billion from its market value as its share price slid over concerns of greater regulator scrutiny. Alibaba is also being forced to sell its media assets.

China: Alibaba being forced to sell its media assets

Tencent holdings have shed around $60 billion on Monday from its market value due to concerns that the Chinese authorities will ramp up scrutiny of the tech giant.

Tencent shed $60 bn in share value as investors fear Chinese govt crackdown

Alibaba Group founder Jack Ma has been left off a list of Chinese entrepreneurial leaders published by state media,&nbsp;the snub underscoring how just far he has run afoul of Beijing.

Shanghai Securities News said, "A generation of Chinese entrepreneurs emerged from the rigid structures of our old economic system with the desire to escape poverty and passion to achieve business ambitions."

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-jack-ma-reappears-358408/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

China's best-known businessman was not mentioned in a front-page article published by a newspaper backed state-run&nbsp;Xinhua News Agency. Instead, Huawei Technologies' Ren Zhengfei, Xiaomi Corp's Lei Jun and BYD's Wang Chuanfu were lauded for their contributions.

The editorial, published on the same day&nbsp;when Alibaba will also report its latest quarterly earnings may help assuage fears that Tencent may get caught up in a broader industry crackdown which is now focused on Ma's Alibaba and the Ant Group Co.

The catalyst for Ma's current woes was an Oct. 24 speech in which he blasted China's regulatory system, leading to the suspension of his Ant Group's $37 billion IPO just days before the fintech giant's listing.

Regulators have since launched an anti-trust probe into the tech sector with Alibaba taking much of the heat, while tighter regulations for Ant Group are also being considered.

Ma, who is not known for shying away from the limelight, subsequently disappeared from the public eye for about three months, triggering frenzied speculation about his whereabouts. He re-emerged last month with a 50-second video appearance.

The Shanghai Securities News said that while some of the entrepreneurs it praised had once behaved like "reckless heroes" in their efforts to break away from an old, rigid economic system, they now led "a group of companies that respected the rules of development and abided by market rules."

Alibaba Group founder Jack Ma has been left off a list of Chinese entrepreneurial leaders published by state media, the snub underscoring how just far he has run afoul of Beijing.

Alibaba Group founder Jack Ma has been left off a list of Chinese entrepreneurial leaders published by state media, the snub underscoring how just far he has run afoul of Beijing. Shanghai Securities News said, "A generation of Chinese entrepreneurs emerged from the rigid structures of our old economic system with the desire to escape poverty and passion to achieve business ambitions." China's best-known businessman was not mentioned in a front-page article published by a newspaper backed state-run Xinhua News Agency. Instead, Huawei Technologies' Ren Zhengfei, Xiaomi Corp's Lei Jun and BYD's Wang Chuanfu were lauded for their contributions. The editorial, published on the same day when Alibaba will also report its latest quarterly earnings may help assuage fears that Tencent may get caught up in a broader industry crackdown which is now focused on Ma's Alibaba and the Ant Group Co. The catalyst for Ma's current woes was an Oct. 24 speech in which he blasted China's regulatory system, leading to the suspension of his Ant Group's $37 billion IPO just days before the fintech giant's listing. Regulators have since launched an anti-trust probe into the tech sector with Alibaba taking much of the heat, while tighter regulations for Ant Group are also being considered. Ma, who is not known for shying away from the limelight, subsequently disappeared from the public eye for about three months, triggering frenzied speculation about his whereabouts. He re-emerged last month with a 50-second video appearance. The Shanghai Securities News said that while some of the entrepreneurs it praised had once behaved like "reckless heroes" in their efforts to break away from an old, rigid economic system, they now led "a group of companies that respected the rules of development and abided by market rules."

Chinese state media omits Jack Ma's name from list of entrepreneurial leaders

The Trump administration is considering adding Alibaba Group Holding Ltd and Tencent Holdings Ltd to a blacklist of Chinese companies that are allegedly owned or controlled by the Chinese military.

The news was first reported by the Wall Street Journal, which said the plan was still under deliberation and may not go through as agencies debate its impact on markets.

Alibaba and Tencent shares were both down roughly 3 per cent in morning trade on the Hong Kong Stock Exchange. Alibaba's US-listed shares closed down just over 5 per cent on the news on Wednesday, but were roughly flat in after hours trading.

On Tuesday, US President Donald Trump signed an executive order banning transactions with eight Chinese software applications, including Ant Group's Alipay mobile payment app, escalating tensions with Beijing two weeks before President-elect Joe Biden takes office.

The Trump administration is considering adding Alibaba Group Holding Ltd and Tencent Holdings Ltd to a blacklist of Chinese companies that are allegedly owned or controlled by the Chinese military.

The Trump administration is considering adding Alibaba Group Holding Ltd and Tencent Holdings Ltd to a blacklist of Chinese companies that are allegedly owned or controlled by the Chinese military. The news was first reported by the Wall Street Journal, which said the plan was still under deliberation and may not go through as agencies debate its impact on markets. Alibaba and Tencent shares were both down roughly 3 per cent in morning trade on the Hong Kong Stock Exchange. Alibaba's US-listed shares closed down just over 5 per cent on the news on Wednesday, but were roughly flat in after hours trading. On Tuesday, US President Donald Trump signed an executive order banning transactions with eight Chinese software applications, including Ant Group's Alipay mobile payment app, escalating tensions with Beijing two weeks before President-elect Joe Biden takes office.

US considering adding Alibaba, Tencent to China stock ban

China's market regulator said on Monday it will fine Alibaba Group, Tencent Holdings-backed China Literature and Shenzhen Hive Box 500,000 yuan

China to fine Alibaba, Tencent for failing to report past deals to anti-trust regulators

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