CHLKF - Tencent must get regulatory green light before releasing new apps and updates

China continues to tighten the rules on its domestic tech sector, saying Tencent (OTCPK:TCEHY) must get approval from regulators to send out updates for its apps. The process could take up to seven days, according to state broadcaster CCTV. The new ruling comes after China's Ministry of Industry and Information Technology found that several of Tencent's apps violated data protection rules, resulting in China's most valuable technology company having to submit new apps before they can be launched. "We are continuously working to enhance user protection features within our apps, and also have regular cooperation with relevant government agencies to ensure regulatory compliance," Tencent said in a statement. "Our apps remain functional and available for download." Alibaba, Baidu other companies fined by Chinese antitrust regulator. Meanwhile, some state-run companies, like China Mobile (OTCPK:CHLKF) and China Construction Bank Corp. (OTCPK:CICHF), are restricting employees' use of Weixin, Tencent's popular domestic messaging app.

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Tencent must get regulatory green light before releasing new apps and updates