Stay updated with breaking news from Tencent licaitong. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Commentary The Chinese regime fined Alibaba $2.8 billion in April under anti-monopoly law, highlighting the regime's comprehensive review of Chinese . ....
Tencent Spared Amid China Tech Monopoly Crackdowns Commentary The Chinese regime fined Alibaba $2.8 billion under its “anti-monopoly law,” highlighting the regime’s comprehensive review of mainland internet companies. However, Tencent, another monopolistic internet company in mainland China, was only fined $311,610, mere pennies for a mega-corporation like Tencent. The CCP’s biggest grievance with Alibaba is that it has grabbed a very big slice of the CCP’s precious banking and finance pie. In reality, Tencent’s monopolistic actions are no lesser than Alibaba’s. China’s three main technology companies are Baidu, Alibaba, and Tencent (BAT). Among BAT, Tencent’s amazing expansion has created the most serious monopoly, which far surpasses the reach of Alibaba or Baidu. ....
Total0 Since December 18, a number of Internet financial platforms in China have successively removed their internet bank deposit products. As of now, according to incomplete statistics by Chinese media, there are at least 10 platforms including Alipay, Tencent Licaitong, JD Finance, Duxiaoman Finance, Lufax, Tianxing Finance, Ctrip Finance, Didi, Meituan, and 360 Nicaifu that have removed related products. Bank deposit products on Internet platforms are traditional bank deposit products but offered via online platforms under an agreement between the bank and the internet platform to match depositors and the financial products. Internet platforms previously thought that they merely offer their platform and traffic to help depositors find products, and therefore perform a matching role and are not offering financial products themselves. ....