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China imposes app control on giant Tencent

News Snapshot:

The Chinese authorities now require the internet giant Tencent to submit any new mobile application or update to pre-release inspection, said a state media, in the midst of tightening regulations targeting the digital sector. The new control imposed by the authorities, however, did not seem to worry the markets: the group’s action gained nearly 2% on the Hong Kong Stock Exchange on Thursday at midday. The measure, announced Wednesday, comes at a time when Beijing is increasing pressure on the digital giants to reframe a dynamic sector of the economy, which has long been freed from several regulatory constraints. Tech…

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