China Market Room – 211129 – Tencent Fines, Didi De-listing, China Digital Asset Center, Crypto, NFT

China Market Room is a quick show three times a week with headlines and comment on three financial, business, or government news items out of China in each episode. The effects of China’s moves impact every business, supply chain, and…

China Market Room - 211129 - Tencent Fines, Didi De-listing, China Digital Asset Center, Crypto, NFT

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China Market Room is a quick show three times a week with headlines and comment on three financial, business, or government news items out of China in each episode. The effects of China’s moves impact every business, supply chain, and government. We help you understand these effects and assess your China risk.

This was China Market Room – 211129
Tencent Fines, Didi De-listing, The Beijing Stock Market and Digital Asset Center

Notes:

Our First Story…

Tencent must get approval from Chinese regulators before publishing new apps and updates – C2-CN – 211125
https://www.cnbc.com/2021/11/25/tencent-must-get-approval-from-regulators-before-publishing-new-apps.html

Chinese Ministry of Industry and Information Technology regulators found China’s largest tech company Tencent issued apps that violated data protection rules a number of times in 2021. Tencent new app issuance is suspended. They are now required to allow regulators to review any new apps, and updates to existing apps, before they go out. This could take as much as seven days.

Also…

China suspends Tencent from updating existing apps or launching new apps: report
– C2-CN – 211128
https://techstory.in/china-suspends-tencent-from-updating-existing-apps-or-launching-new-apps-report/

China fines Caifutong, Tencent’s WeChat Pay operator, for breaking foreign exchange rules – C2-CN – 211128
https://www.scmp.com/tech/big-tech/article/3157665/china-fines-caifutong-tencents-wechat-pay-operator-breaking-foreign

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Our Second Story…

Beijing presses Didi to delist from U.S. over data security fears – sources – C2-CN – 211126
https://www.reuters.com/world/china/china-asks-didi-delist-us-security-fears-bloomberg-news-2021-11-26/

Didi’s Secrets Risk China’s Wall Street Future – C2-CN – 211129
https://www.bloomberg.com/opinion/articles/2021-11-29/didi-s-potential-delisting-is-a-risk-for-all-u-s-listed-chinese-companies

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Our Third Story…

Beijing looks into setting up a digital asset exchange to push the e-yuan – C2-CN – 211126
https://www.scmp.com/business/banking-finance/article/3157528/beijing-looks-setting-digital-asset-exchange-push-e-yuan

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