Tencent Halts WeChat Registrations Till Early August Amid China's Regulatory Crackdown: Bloomberg

July 27, 2021 2:59 PM | 1 min read | Make a Comment

Tencent Holdings Ltd TCEHY suspended new user registrations for its WeChat services as it undergoes a technical security upgrade under relevant laws and regulations, Bloomberg reports.
Lately, China has issued strict regulations online education industry and food delivery.
Tencent aims to resume new WeChat registrations around early Aug.
WeChat is China's one-stop shop for everything from hailing a cab to ordering meals and paying utility bills. It has over one billion users.
Price action: TCEHY shares traded lower by 5.15% at $57.08.
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