China’s three internet giants under investigation for cyber-security violations

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The crackdown follows the closure in June of around 60 celebrity gossip accounts on WeChat, China’s largest messaging app with over 600 million users. The influential accounts were accused of disseminating similarly illegal content. The agency said at the time that media should “actively propagate core socialist values, and create an ever-more healthy environment for the mainstream public opinion.”…TechCrunch


  • Tencent, Baidu and Sina Weibo are being investigated by Chinese cyber-security regulators for potential violations
  • Tencent shares in Hong Kong were down 2 percent on the day

Chinese internet giants TencentBaidu and Sina Weibo are under investigation for cyber-security violations, the mainland’s office for cyberspace administration said on Friday.

An English translation of a notice on the office’s website said the social media platforms of the three companies — WeChat, Tieba and Weibo respectively — have users spreading “violent, terror, false, rumored, and pornographic information that damages national and public security [in addition to] disrupting social order.”

Tencent's new headquarters in Shenzhen, China, pictured in August 2016

Bloomberg | Getty Images
Tencent’s new headquarters in Shenzhen, China, pictured in August 2016

Citing earlier investigations, the notice said the platforms were “suspected of violating cyber-security laws and did not fulfill duties to manage information published by their users.”

Tencent shares in Hong Kong were in the red following the news. The stock was down more than 2 percent following earlier losses of around 4 percent.

Baidu and Sina trade in New York and investors will be watching for any reaction at the U.S. market open.

By Nyshka Chandran
Barry Huang contributed to this report.
CNBC

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