WeChat’s most censored topics in 2018 include US-China trade war, Huawei CFO arrest: Report

The study found that 8,092 of the approximately 11, 000 articles flagged as censored fell under the category of posts that were removed by their authors — accounting for approximately 74 percent. “Self-censorship is a common practice among internet users in China as online speech can easily bring them trouble,” Wang and Fan said in the report. “Users will often remove their own posts if they receive warning from senior colleagues or employers.” “We detected articles related to certain highly cen


The study found that 8,092 of the approximately 11, 000 articles flagged as censored fell under the category of posts that were removed by their authors — accounting for approximately 74 percent. “Self-censorship is a common practice among internet users in China as online speech can easily bring them trouble,” Wang and Fan said in the report. “Users will often remove their own posts if they receive warning from senior colleagues or employers.” “We detected articles related to certain highly cen
WeChat’s most censored topics in 2018 include US-China trade war, Huawei CFO arrest: Report Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: eustance huang, omar marques, sopa images, lightrocket, getty images
Keywords: news, cnbc, companies, authors, huawei, censored, articles, original, wechat, uschina, include, users, trade, wechats, posts, wechatscope, flagged, removed, report, cfo, publisher, war, topics


WeChat's most censored topics in 2018 include US-China trade war, Huawei CFO arrest: Report

In its findings, WeChatscope said there were four official reasons that were typically offered for a post’s removal: the original publisher deleted the post, WeChat removed it because it was found to violate a law, WeChat removed it because it was flagged by other users as breaking platform regulations, or WeChat blocked the original publisher for regularly breaking community rules.

The study found that 8,092 of the approximately 11, 000 articles flagged as censored fell under the category of posts that were removed by their authors — accounting for approximately 74 percent.

“Self-censorship is a common practice among internet users in China as online speech can easily bring them trouble,” Wang and Fan said in the report. “Users will often remove their own posts if they receive warning from senior colleagues or employers.”

In a follow up conversation over email with CNBC, a representative for the WeChatscope team said the program had yet to develop a “solid argument on self-censorship” as its research was mainly focused on systematic censorship.

“We detected articles related to certain highly censored topics which were also collectively removed by public account users. For instance, the issue of (the) US-China trade war,” they said. “In some cases, we would be skeptical to those self-removal cases that might be under pressure of overarching political censorship. However, we have to examine on a case by case basis.”

When asked about the possibility of posts being removed by their authors due to an error, WeChatscope acknowledged that it had “observed news articles that were collectively removed by authors because of misinformation.”


Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: eustance huang, omar marques, sopa images, lightrocket, getty images
Keywords: news, cnbc, companies, authors, huawei, censored, articles, original, wechat, uschina, include, users, trade, wechats, posts, wechatscope, flagged, removed, report, cfo, publisher, war, topics


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

WeChat’s most censored topics in 2018 include US-China trade war, Huawei CFO arrest: Report

The study found that 8,092 of the approximately 11, 000 articles flagged as censored fell under the category of posts that were removed by their authors — accounting for approximately 74 percent. “Self-censorship is a common practice among internet users in China as online speech can easily bring them trouble,” Wang and Fan said in the report. “Users will often remove their own posts if they receive warning from senior colleagues or employers.” “We detected articles related to certain highly cen


The study found that 8,092 of the approximately 11, 000 articles flagged as censored fell under the category of posts that were removed by their authors — accounting for approximately 74 percent. “Self-censorship is a common practice among internet users in China as online speech can easily bring them trouble,” Wang and Fan said in the report. “Users will often remove their own posts if they receive warning from senior colleagues or employers.” “We detected articles related to certain highly cen
WeChat’s most censored topics in 2018 include US-China trade war, Huawei CFO arrest: Report Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: eustance huang, omar marques, sopa images, lightrocket, getty images
Keywords: news, cnbc, companies, authors, huawei, censored, articles, original, wechat, uschina, include, users, trade, wechats, posts, wechatscope, flagged, removed, report, cfo, publisher, war, topics


WeChat's most censored topics in 2018 include US-China trade war, Huawei CFO arrest: Report

In its findings, WeChatscope said there were four official reasons that were typically offered for a post’s removal: the original publisher deleted the post, WeChat removed it because it was found to violate a law, WeChat removed it because it was flagged by other users as breaking platform regulations, or WeChat blocked the original publisher for regularly breaking community rules.

The study found that 8,092 of the approximately 11, 000 articles flagged as censored fell under the category of posts that were removed by their authors — accounting for approximately 74 percent.

“Self-censorship is a common practice among internet users in China as online speech can easily bring them trouble,” Wang and Fan said in the report. “Users will often remove their own posts if they receive warning from senior colleagues or employers.”

In a follow up conversation over email with CNBC, a representative for the WeChatscope team said the program had yet to develop a “solid argument on self-censorship” as its research was mainly focused on systematic censorship.

“We detected articles related to certain highly censored topics which were also collectively removed by public account users. For instance, the issue of (the) US-China trade war,” they said. “In some cases, we would be skeptical to those self-removal cases that might be under pressure of overarching political censorship. However, we have to examine on a case by case basis.”

When asked about the possibility of posts being removed by their authors due to an error, WeChatscope acknowledged that it had “observed news articles that were collectively removed by authors because of misinformation.”


Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: eustance huang, omar marques, sopa images, lightrocket, getty images
Keywords: news, cnbc, companies, authors, huawei, censored, articles, original, wechat, uschina, include, users, trade, wechats, posts, wechatscope, flagged, removed, report, cfo, publisher, war, topics


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Everything you need to know about WeChat — China’s billion-user messaging app

WeChat is China’s most popular messaging app with a monthly user base of more than 1 billion people. But it’s unlikely that you would have used it if you live outside China. It is owned by Tencent, one of Asia’s largest companies by market cap. While it started out as a messaging service, it has transformed into an app where you can do everything from payments to hailing a ride, or even booking flights. Here’s a rundown of what WeChat is and how it works.


WeChat is China’s most popular messaging app with a monthly user base of more than 1 billion people. But it’s unlikely that you would have used it if you live outside China. It is owned by Tencent, one of Asia’s largest companies by market cap. While it started out as a messaging service, it has transformed into an app where you can do everything from payments to hailing a ride, or even booking flights. Here’s a rundown of what WeChat is and how it works.
Everything you need to know about WeChat — China’s billion-user messaging app Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-04  Authors: arjun kharpal, nurphoto, getty images, zhang peng, lightrocket
Keywords: news, cnbc, companies, messaging, whatsappheres, user, know, app, tencent, wechat, need, works, used, billionuser, unlikely, transformed, chinas


Everything you need to know about WeChat — China's billion-user messaging app

WeChat is China’s most popular messaging app with a monthly user base of more than 1 billion people.

But it’s unlikely that you would have used it if you live outside China. It is owned by Tencent, one of Asia’s largest companies by market cap. While it started out as a messaging service, it has transformed into an app where you can do everything from payments to hailing a ride, or even booking flights.

It’s a very different prospect to the likes of Facebook’s Messenger or WhatsApp.

Here’s a rundown of what WeChat is and how it works.


Company: cnbc, Activity: cnbc, Date: 2019-02-04  Authors: arjun kharpal, nurphoto, getty images, zhang peng, lightrocket
Keywords: news, cnbc, companies, messaging, whatsappheres, user, know, app, tencent, wechat, need, works, used, billionuser, unlikely, transformed, chinas


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Apple may be headed for ‘serious ramifications’ in China after Tencent’s latest update to WeChat

Apple did not immediately respond to a CNBC request for comment on this story. Known in China as Weixin, the mobile app is also used by many overseas Chinese and foreigners. It has evolved from recorded voice messages to a means of paying for store purchases and utility bills. Users can also access third-party services such as SF Express — a delivery company similar to FedEx — through WeChat mini programs. “Some even say China’s operating system is WeChat, not (Google’s) Android or (Apple’s) iOS


Apple did not immediately respond to a CNBC request for comment on this story. Known in China as Weixin, the mobile app is also used by many overseas Chinese and foreigners. It has evolved from recorded voice messages to a means of paying for store purchases and utility bills. Users can also access third-party services such as SF Express — a delivery company similar to FedEx — through WeChat mini programs. “Some even say China’s operating system is WeChat, not (Google’s) Android or (Apple’s) iOS
Apple may be headed for ‘serious ramifications’ in China after Tencent’s latest update to WeChat Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-25  Authors: eustance huang, getty images news, getty images
Keywords: news, cnbc, companies, latest, wechat, mobile, apple, apples, users, research, store, ios, serious, ramifications, update, headed, tencents, china, operating, nguyen, hardware


Apple may be headed for 'serious ramifications' in China after Tencent's latest update to WeChat

“With WeChat moving towards solidifying the mini-programs position, there could be serious ramifications for Apple’s service business, which it has been focusing on to counter plateauing hardware sales,” TuanAnh Nguyen, an analyst at technology research firm Canalys, said in an email to CNBC.

“The advantage that WeChat mini-program brings is not only concentration of apps into one popular (platform), but it’s very enticing to developers, especially startups and (independent operations) who have limited resources, to focus on 1 single ‘app store,'” Nguyen said.

Apple did not immediately respond to a CNBC request for comment on this story.

Given their ubiquity across both Apple’s iOS and Google’s Android mobile operating systems, “superapps” such as WeChat have “made the Apple ecosystem lock-in much weaker” in China in comparison to other parts of the world, resulting in an erosion of the competitive advantage of the Cupertino-based tech giant’s hardware, he said.

WeChat has more than 1 billion monthly active users, according to Tencent. Known in China as Weixin, the mobile app is also used by many overseas Chinese and foreigners. It has evolved from recorded voice messages to a means of paying for store purchases and utility bills. Users can also access third-party services such as SF Express — a delivery company similar to FedEx — through WeChat mini programs.

“WeChat is your Facebook, your credit card, your Uber, your Amazon altogether.” said Mengmeng Zhang, a Beijing-based analyst at Counterpoint Research. “Some even say China’s operating system is WeChat, not (Google’s) Android or (Apple’s) iOS.”


Company: cnbc, Activity: cnbc, Date: 2019-01-25  Authors: eustance huang, getty images news, getty images
Keywords: news, cnbc, companies, latest, wechat, mobile, apple, apples, users, research, store, ios, serious, ramifications, update, headed, tencents, china, operating, nguyen, hardware


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Millions of Chinese tourists are spurring the growth of mobile pay overseas

In just a few years, mobile payment has become so ingrained in the lives of Chinese people that they are driving stores in overseas tourist destinations to adopt the technology. Three-fourths of supermarkets and convenience stores in Singapore, Malaysia and Thailand now accept Chinese mobile payment, according to a Nielsen survey released Monday. Alipay co-issued the report, which covers 1,244 merchants and 2,806 Chinese residents surveyed in the fall of 2018. “Along with the increasingly person


In just a few years, mobile payment has become so ingrained in the lives of Chinese people that they are driving stores in overseas tourist destinations to adopt the technology. Three-fourths of supermarkets and convenience stores in Singapore, Malaysia and Thailand now accept Chinese mobile payment, according to a Nielsen survey released Monday. Alipay co-issued the report, which covers 1,244 merchants and 2,806 Chinese residents surveyed in the fall of 2018. “Along with the increasingly person
Millions of Chinese tourists are spurring the growth of mobile pay overseas Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-21  Authors: evelyn cheng
Keywords: news, cnbc, companies, merchants, mobile, payment, zhao, stores, spurring, growth, tourists, wechat, chinese, overseas, pay, alipay, millions, nielsen


Millions of Chinese tourists are spurring the growth of mobile pay overseas

In just a few years, mobile payment has become so ingrained in the lives of Chinese people that they are driving stores in overseas tourist destinations to adopt the technology.

Three-fourths of supermarkets and convenience stores in Singapore, Malaysia and Thailand now accept Chinese mobile payment, according to a Nielsen survey released Monday. Some 71 percent of duty-free stores and luxury stores in those countries also take the payment method.

The two dominant operators are Alipay, which is run by Alibaba-affiliate Ant Financial, and WeChat Pay, which is tied to Tencent’s ubiquitous Chinese messaging app, WeChat. Alipay co-issued the report, which covers 1,244 merchants and 2,806 Chinese residents surveyed in the fall of 2018.

“Along with the increasingly personalized and sophisticated demand of Chinese tourists, improving the global coverage of mobile payments is a long-term project (for merchants),” Andy Zhao, president of Nielsen China, said in a statement.

Usage rate of mobile payment by Chinese tourists


Company: cnbc, Activity: cnbc, Date: 2019-01-21  Authors: evelyn cheng
Keywords: news, cnbc, companies, merchants, mobile, payment, zhao, stores, spurring, growth, tourists, wechat, chinese, overseas, pay, alipay, millions, nielsen


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Tesla’s China factory is set to begin production late next year, Shanghai government says

Tesla is on pace to begin production at its factory in China in the second half of next year, the Shanghai government said Wednesday. Land leveling is basically complete and construction is about to begin, with the factory expected to be put partially into operation in the second half of 2019, according to an official WeChat post from the government. The article described a visit by Shanghai Mayor Ying Yong and Vice Mayor Wu Qing. In mid-October, Tesla officially acquired an 864,885-square meter


Tesla is on pace to begin production at its factory in China in the second half of next year, the Shanghai government said Wednesday. Land leveling is basically complete and construction is about to begin, with the factory expected to be put partially into operation in the second half of 2019, according to an official WeChat post from the government. The article described a visit by Shanghai Mayor Ying Yong and Vice Mayor Wu Qing. In mid-October, Tesla officially acquired an 864,885-square meter
Tesla’s China factory is set to begin production late next year, Shanghai government says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: evelyn cheng, qilai shen, bloomberg, getty images
Keywords: news, cnbc, companies, electric, costs, second, china, begin, wechat, mayor, late, half, production, official, shanghai, teslas, tesla, factory, set


Tesla's China factory is set to begin production late next year, Shanghai government says

Tesla is on pace to begin production at its factory in China in the second half of next year, the Shanghai government said Wednesday.

Land leveling is basically complete and construction is about to begin, with the factory expected to be put partially into operation in the second half of 2019, according to an official WeChat post from the government. The article described a visit by Shanghai Mayor Ying Yong and Vice Mayor Wu Qing.

Tesla did not immediately respond to an emailed request for comment.

In mid-October, Tesla officially acquired an 864,885-square meter plot in Shanghai’s Lingang area for the electric car maker’s first factory outside the U.S.

Elon Musk’s company has also launched an official WeChat account for hiring locals.

Producing in China, the world’s largest market for electric vehicles, would allow Tesla to reduce costs significantly. The company has said it is operating at a 55 percent to 60 percent cost disadvantage with a domestic peer due to ocean transport costs and tariffs.


Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: evelyn cheng, qilai shen, bloomberg, getty images
Keywords: news, cnbc, companies, electric, costs, second, china, begin, wechat, mayor, late, half, production, official, shanghai, teslas, tesla, factory, set


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

TD Ameritrade becomes first US brokerage to partner with Tencent’s WeChat in America

TD Ameritrade is partnering with Tencent as the U.S. brokerage firm looks to tap the massive user base of the Chinese technology company’s WeChat messaging app. The move doesn’t get TD Ameritrade into mainland China yet, but would allow U.S. users to use the portal to check market data and other features. The bulk of WeChat’s users are in mainland China and TD Ameritrade would likely need to work to generate awareness of the mini program for U.S. users. The news followed an announcement a few da


TD Ameritrade is partnering with Tencent as the U.S. brokerage firm looks to tap the massive user base of the Chinese technology company’s WeChat messaging app. The move doesn’t get TD Ameritrade into mainland China yet, but would allow U.S. users to use the portal to check market data and other features. The bulk of WeChat’s users are in mainland China and TD Ameritrade would likely need to work to generate awareness of the mini program for U.S. users. The news followed an announcement a few da
TD Ameritrade becomes first US brokerage to partner with Tencent’s WeChat in America Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-03  Authors: evelyn cheng, zhang peng, lightrocket, getty images
Keywords: news, cnbc, companies, company, wechat, users, china, foreign, financial, america, partner, mainland, brokerage, ameritrade, td, chinese, tencents


TD Ameritrade becomes first US brokerage to partner with Tencent's WeChat in America

TD Ameritrade is partnering with Tencent as the U.S. brokerage firm looks to tap the massive user base of the Chinese technology company’s WeChat messaging app.

The online brokerage announced Monday it’s opening a portal on WeChat for U.S. users, following a similar launch in August for Hong Kong users. The move doesn’t get TD Ameritrade into mainland China yet, but would allow U.S. users to use the portal to check market data and other features. It gives the company a first-mover advantage in being present on the most popular social messaging app in China, amid a steady push of foreign financial firms into the world’s second-largest economy.

“For greater Asia, China, there is obviously a large number of customers here who are interested in investing in U.S. markets,” JB Mackenzie, the managing director of TD Ameritrade Asia, said in an interview with CNBC Monday.

WeChat has more than 1 billion monthly active users, according to Tencent. Known in China as Weixin, the mobile app is also used by many overseas Chinese and foreigners. It has evolved from recorded voice messages to a means of paying for store purchases and utility bills. Users can also access third-party services such as SF Express — a delivery company similar to FedEx — through “mini programs” that live within the WeChat app.

TD Ameritrade’s portal will be a mini program. The company says users can access market data, investor education materials, account balance information and agent chat services. The bulk of WeChat’s users are in mainland China and TD Ameritrade would likely need to work to generate awareness of the mini program for U.S. users.

“WeChat has been expanding its offering globally, and we are very excited that TD Ameritrade is using WeChat to bring our unrivaled convenience and accessibility to its customers,” Juliet Zhu, general manager and head of WeChat Marketing at Tencent, said in a release.

TD Ameritrade’s push to work with a leading Chinese brand comes as Beijing has stepped up its efforts this year to make good on years-long promises to open up its financial markets to foreign players.

This past Friday, UBS received approval to become the first foreign bank to increase its stake in a Chinese securities joint venture to a majority 51 percent. The news followed an announcement a few days earlier that German insurer Allianz could establish a wholly-owned unit in mainland China. In early November, American Express received preparatory approval from the People’s Bank of China for a clearing and settlement license in mainland China, where the company has formed a joint venture with Chinese fintech (financial technology) company LianLian.

“(In the) past six months there’s an increasing appetite from the (multinational corporations) to double down and increase their presence in China. That of course was triggered by new regulation (for allowing majority stakes),” Cliff Sheng, financial services partner at consulting firm Oliver Wyman, said in a phone interview Monday.

Sheng noted the ability of foreign financial firms to succeed in China depends on how much they can commit to localizing their services. “This is the primary concern for the foreign players on top of getting the license,” he said.

In this case, TD Ameritrade is working with one of the leaders in China’s rapidly developing fintech sector. WeChat’s mobile pay function vies with Alibaba-affiliate Alipay as one of the primary means of payment in mainland China today, and parent company Tencent is behind the country’s first digital bank, WeBank.

“I think there are some amazing ideas ready to burst out of this scene,” Mackenzie said. “What you have are innovations from all parts of this world that are working to bring these ideas to customers, and that’s an exciting opportunity to us.”


Company: cnbc, Activity: cnbc, Date: 2018-12-03  Authors: evelyn cheng, zhang peng, lightrocket, getty images
Keywords: news, cnbc, companies, company, wechat, users, china, foreign, financial, america, partner, mainland, brokerage, ameritrade, td, chinese, tencents


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Coca-Cola: Trump and Xi should exchange WeChats to stop trade war

The Chinese head of one of the world’s most iconic brands has doled out some advice to President Donald Trump on defusing his trade spat with President Xi Jinping: Make like Chinese businessmen and exchange WeChat accounts. Coca-Cola’s president for Greater China and Korea, Curtis Ferguson, said Wednesday that Trump should adapt his leadership style more to the Chinese model and use the messaging app to initiate talks on ending the dispute. “As all business is done in China, I’d probably suggest


The Chinese head of one of the world’s most iconic brands has doled out some advice to President Donald Trump on defusing his trade spat with President Xi Jinping: Make like Chinese businessmen and exchange WeChat accounts. Coca-Cola’s president for Greater China and Korea, Curtis Ferguson, said Wednesday that Trump should adapt his leadership style more to the Chinese model and use the messaging app to initiate talks on ending the dispute. “As all business is done in China, I’d probably suggest
Coca-Cola: Trump and Xi should exchange WeChats to stop trade war Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-19  Authors: karen gilchrist
Keywords: news, cnbc, companies, china, stop, curtis, cocacola, exchange, president, direct, wechat, wechats, war, xi, trump, ferguson, worth, chinese, trade


Coca-Cola: Trump and Xi should exchange WeChats to stop trade war

The Chinese head of one of the world’s most iconic brands has doled out some advice to President Donald Trump on defusing his trade spat with President Xi Jinping: Make like Chinese businessmen and exchange WeChat accounts.

Coca-Cola’s president for Greater China and Korea, Curtis Ferguson, said Wednesday that Trump should adapt his leadership style more to the Chinese model and use the messaging app to initiate talks on ending the dispute.

“As all business is done in China, I’d probably suggest they exchange WeChat accounts and get on with this thing,” Curtis Ferguson told CNBC’s Akiko Fujita and Martin Soong at the World Economic Forum in Tianjin, China.

Trump said Monday that he would be open to direct discussions with the Chinese Premier, whom he “respects,” while simultaneously announcing new tariffs on $200 billion worth of Chinese imports. Beijing retaliated in short order, slapping duties on $60 billion worth of American goods.

Those hikes spell bad news for all businesses, Ferguson said. Though he said the soft drink maker has not yet felt a direct effect from the levies, apart from in rising commodity prices.

He also said he hopes the company will be spared from anticipated boycotts of U.S. products by Chinese consumers, as it is increasingly seen as a “local brand.”


Company: cnbc, Activity: cnbc, Date: 2018-09-19  Authors: karen gilchrist
Keywords: news, cnbc, companies, china, stop, curtis, cocacola, exchange, president, direct, wechat, wechats, war, xi, trump, ferguson, worth, chinese, trade


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Tencent reportedly partners local coffee start-up to take on China’s coffee market

The partnership will create a “new lifestyle of ‘smart retail’ through tie-up on user traffic, technology exploration, application scenarios and management abilities,” said Lei Maofeng, deputy general manager of Tencent’s payment platform WeChat Pay, the SCMP reported. Tencent did not respond to CNBC’s multiple requests for comment. The announcement comes just a month after rivals Alibaba confirmed that its food delivery arm, Ele.me, has teamed up with Starbucks to deliver coffee and snacks to C


The partnership will create a “new lifestyle of ‘smart retail’ through tie-up on user traffic, technology exploration, application scenarios and management abilities,” said Lei Maofeng, deputy general manager of Tencent’s payment platform WeChat Pay, the SCMP reported. Tencent did not respond to CNBC’s multiple requests for comment. The announcement comes just a month after rivals Alibaba confirmed that its food delivery arm, Ele.me, has teamed up with Starbucks to deliver coffee and snacks to C
Tencent reportedly partners local coffee start-up to take on China’s coffee market Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-07  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, partners, chinas, wechat, delivery, tieup, tencents, tencent, starbucks, startup, user, technology, coffee, traffic, teamed, partnership, reportedly, market, local


Tencent reportedly partners local coffee start-up to take on China's coffee market

The partnership will create a “new lifestyle of ‘smart retail’ through tie-up on user traffic, technology exploration, application scenarios and management abilities,” said Lei Maofeng, deputy general manager of Tencent’s payment platform WeChat Pay, the SCMP reported.

Tencent did not respond to CNBC’s multiple requests for comment.

The announcement comes just a month after rivals Alibaba confirmed that its food delivery arm, Ele.me, has teamed up with Starbucks to deliver coffee and snacks to Chinese consumers starting in fall in Beijing and Shanghai. Before the end of the calendar year, the partnership will broaden delivery to 2,000 stores in 30 cities, according to Starbucks President and CEO Kevin Johnson.


Company: cnbc, Activity: cnbc, Date: 2018-09-07  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, partners, chinas, wechat, delivery, tieup, tencents, tencent, starbucks, startup, user, technology, coffee, traffic, teamed, partnership, reportedly, market, local


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

China clamps down on cryptocurrency speculation, but not blockchain development

While Beijing supports the development of the underlying blockchain technology, it is still trying to limit speculation in digital currencies roughly one year since banning their sales in “initial coin offerings.” Blockchain technology creates a secure, basically permanent record of transactions between two parties, eliminating the need for a third-party intermediary such as a bank. China used to dominate bitcoin trading, and still accounts for a majority of bitcoin creation through the “mining”


While Beijing supports the development of the underlying blockchain technology, it is still trying to limit speculation in digital currencies roughly one year since banning their sales in “initial coin offerings.” Blockchain technology creates a secure, basically permanent record of transactions between two parties, eliminating the need for a third-party intermediary such as a bank. China used to dominate bitcoin trading, and still accounts for a majority of bitcoin creation through the “mining”
China clamps down on cryptocurrency speculation, but not blockchain development Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-03  Authors: evelyn cheng, getty images
Keywords: news, cnbc, companies, cryptocurrency, cryptocurrencies, wechat, clamps, accounts, trading, speculation, development, technology, blockchain, used, bank, china, chinese, bitcoin


China clamps down on cryptocurrency speculation, but not blockchain development

Chinese authorities have stepped up their pressure on domestic cryptocurrency activity in the last few weeks.

While Beijing supports the development of the underlying blockchain technology, it is still trying to limit speculation in digital currencies roughly one year since banning their sales in “initial coin offerings.”

Blockchain technology creates a secure, basically permanent record of transactions between two parties, eliminating the need for a third-party intermediary such as a bank. Bitcoin is the first application of the technology, and hundreds of other cryptocurrencies have since emerged. Their prices skyrocketed last year as investors bet blockchain could transform the world as much as the internet did. While major companies and governments — including China’s — are testing the technology, it has yet to prove itself on a large scale.

China used to dominate bitcoin trading, and still accounts for a majority of bitcoin creation through the “mining” process. But increased regulatory scrutiny, especially as bitcoin’s price climbed, culminated in the country’s central bank and other financial authorities prohibiting sales of new cryptocurrencies through so-called ICOs early last September. Beijing also effectively banned domestic bitcoin-yuan trading.

At the same time, Japanese, South Korean and U.S. investors became increasingly interested in bitcoin, which hit an all-time high above $19,000 in December. Chinese blockchain projects sometimes moved their listed headquarters overseas, while development continued within mainland China. Trading among cryptocurrencies is still possible, while bitcoin can be bought with yuan through over-the-counter markets.

The persistent speculation has not gone unnoticed.

On Aug. 24, five government bodies — the People’s Bank of China, the Banking Regulatory Commission, the Central Cyberspace Affairs Commission, the Ministry of Public Security and the State Administration for Market Regulation — issued a warning about risks from illegal fundraising under the guise of “blockchain” and “cryptocurrencies.” The announcement also called out those who used overseas servers while targeting Chinese investors.

On the same day, tech giant Tencent announced it will prohibit cryptocurrency-related transactions through WeChat pay, the mobile payments function of its popular Chinese messaging app. Tencent has also blocked some official WeChat accounts that allegedly published information relating to initial coin offerings and cryptocurrency trading that violated government policy on instant messaging services, the company said in a statement to CNBC. Official WeChat accounts share articles and news updates with subscribers for free. Caixin first reported the block on Aug. 22.


Company: cnbc, Activity: cnbc, Date: 2018-09-03  Authors: evelyn cheng, getty images
Keywords: news, cnbc, companies, cryptocurrency, cryptocurrencies, wechat, clamps, accounts, trading, speculation, development, technology, blockchain, used, bank, china, chinese, bitcoin


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post