The Hang Seng Tech Index shed 11.03 percent, with market heavyweight Alibaba down 10.9 percent and Tencent 9.79 percent. Alibaba is actively working toward introducing multiple payment methods on Taobao. The Hang Seng Index sank 4.97 percent, or 1,022.13 points, to 19,531.66, dropping below 20,000 points for the first time since mid-2016. Alibaba Offers WeChat Pay on Some Apps at Beijing’s Behest. Separately, Hong Kong stocks yesterday fell more than 5 percent, as technology firms were hit by concerns over China’s crackdown on the sector and as the country’s tech hub Shenzhen was put into lockdown. However, the connection between WeChat Pay and the rest of Tencent’s finance division could make the separation - which executives have said would have a minimal effect on operations - more complicated. Under recently established regulations, Tencent is required to restructure its fintech business under a financial holdings company much like Alibaba founder Jack Ma’s (馬雲) Ant Group Co (螞蟻集團). Services including food-delivery app Ele.me, online ticketing platform Damai, e-book reader Shuqi and Kaola, a site for imported goods. added rival Tencent Holdings Ltd.’s payment system to some of its apps, further widening cracks in the internet giants’ walled-off ecosystems. Last year, the country’s technology overseer told Internet firms to stop blocking rival services, prompting WeChat to start allowing external links to apps run by companies such as Alibaba and ByteDance Ltd (字節跳動). Alibaba Offers WeChat Pay on Some Apps at Beijing’s Behest. Tencent’s investment arm could be affected as Chinese President Xi Jinping’s (習近平) administration grows wary of what it deems a “disorderly expansion of capital,” while WeChat has drawn scrutiny from regulators for building an enclosed Internet ecosystem that spans everything from e-commerce to short videos and online payments. using facial recognition using Tencents WeChat payment system.
A Tencent spokesperson did not immediately respond to a request for comment. Chinese internet giant Tencent has signed a partnership deal with coffee startup Luckin.
0 kommentar(er)
