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(ATVI), among others, according to Bernstein analyst David Dai. Tencent has published several popular mobile and video games, and it also owns US-based Riot Games, has a majority stake in Supercell, and smaller stakes in other international gaming companies such as Epic Tencent is also the world’s largest gaming company by revenue, according to market research firm Newzoo. The company does not disclose user numbers by country, but industry analysts say the vast majority of them are in China. Tencent reported in March that Weixin and WeChat have nearly 1.2 billion monthly active users. Weixin is a daily necessity for hundreds of millions of Chinese, who use the app to message friends, share photos, hail rides, pay for stuff, book restaurants, order food and a host of other services. The Shenzhen-based company is a national tech champion in China. Trump administration wants to purge Chinese tech from US networks Pablo Martinez Monsivais/POOL/AFP/Getty Images US Secretary of State Mike Pompeo speaks during a news conference at the State Department in Washington, DC, on August 5, 2020.
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TikTok said it was “shocked” by Trump’s order and warned that it “sets a dangerous precedent for the concept of free expression and open markets.” The company said it will “pursue all remedies available to us.”Ī Tencent spokesperson, meanwhile, said the company “is reviewing the executive order to get a full understanding.” “The United States is using national security as an excuse and using state power to oppress non-American businesses,” ministry spokesperson Wang Wenbin said during a daily press briefing, accusing the United States of “political manipulation and oppression.” The app provides a range of services, including instant messaging and the ability to send money to other users.Īccording to the order, a ban would apply to “any transaction that is related to WeChat” made by any person or “any property” subject to the jurisdiction of the United States.Ĭhina’s Ministry of Foreign Affairs on Friday said it “firmly opposes” the executive orders targeting WeChat and TikTok. WeChat is the overseas version of Tencent’s widely popular Chinese messaging app Weixin.
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It also marks the first time the government “has attempted to ban a software application running on millions of mobile phones” in the United States, Triolo wrote in a note on Friday.Ī WeChat ban would be a blow to the Chinese diaspora, students and others in the United States who rely on the app to communicate with family, friends and business partners in China. The moves to ban TikTok and WeChat represent an “unprecedented intervention by the US government in the consumer technology sector,” according to Paul Triolo, head of geotechnology at Eurasia Group, a political risk consultancy. Trump had already said that he would ban TikTok if a deal for the app is not reached with an American company, but the inclusion of WeChat indicates that Washington is broadening its efforts to restrict some Chinese apps from operating in the United States. Trump issued executive orders late Thursday night that would ban WeChat and TikTok, the short-form video app owned by Beijing-based ByteDance, from operating in the United States in 45 days if they are not sold by their parent companies. They pared back some of those losses, but still ended the day down nearly 5%. It sent Tencent shares plunging as much as 10% in Hong Kong. Trump visits American Red Cross in Washington, Washington, District of Columbia, USA - ShutterstockĪs Trump threatens ban, TikTok says it wants to fight foreign interference in the November election Trump participates in a roundtable on donating plasma at the American Red Cross National Headquarters in Washington. All this time, I never left WeChat.Mandatory Credit: Photo by Shutterstock (10728372v)
On my way back, I booked a flight and hotel for my next trip and scrolled the latest news and celebrity gossip. We ordered, ate, drank, paid the bill, and hardly interacted with the waiter.
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At the diner, I scanned a QR code and perused the menu.
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I hailed a taxi, listened to Taylor Swift, booked movie tickets to see Spider-Man, and then paid the taxi driver.
On a typical evening before the pandemic, I messaged friends about where to meet for dinner, and they sent me the location of a diner. I live in Hong Kong and use WeChat routinely to connect with people on the mainland. It’s one of the largest social media platforms, with more people actively using it than Twitter and Snapchat put together. Despite its name, which makes it sound like a messaging service, this one app dominates almost every facet of a person’s daily online existence in China-banking, dating, gaming, music, shopping, social media. In China that’s sort of what it’s like to live without WeChat. Simple tasks-ordering takeout, staying in touch-become frustratingly difficult, never mind dealing with emergencies. Imagine for a second life before smartphones.
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