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Top related persons:
David Kirton - 1 Ma - 1 Josh Ye - 1 Brenda Goh - 1
Top related locs:
Nanshan district Shenzhen Guangdong province China HONG KONG Shenzhen Yayue TikTok Beijing
Top related orgs:
REUTERS - 1 Tencent Holdings - 1 HK - 1 Shenzhen Yayue Technology - 1 Oc - 1 China Internet Investment Fund - 1 Alibaba - 1 Financial Times - 1

Search resuls for: "Beijing ByteDance Technology"


2 mentions found


☆ Beijing takes 'golden share' in a Tencent subsidiary, records show
  + stars: | 2023-10-19 | by ( Josh Ye | ) www.reuters.com   time to read: +3 min
A man rides an electric bike past the Tencent headquarters in Nanshan district of Shenzhen, Guangdong province, China September 2, 2022. Tencent, the world's largest video game company and the operator of the WeChat messaging platform, declined to comment. Shenzhen Yayue Technology, whose business involves information technology and internet services, was previously 100% owned by a Tencent subsidiary before the stake change took place on Wednesday, according to Qichacha. The Financial Times first reported Beijing's plan to acquire a golden share in a Tencent subsidiary earlier this year. In the case of ByteDance, the Chinese government took a board seat in Beijing ByteDance Technology with its 1% stake.
Persons: David Kirton, Ma, Josh Ye, Brenda Goh Organizations: REUTERS, Tencent Holdings, HK, Shenzhen Yayue Technology, Oc, China Internet Investment Fund, Alibaba, Reuters, Financial Times, Beijing ByteDance Technology, Thomson Locations: Nanshan district, Shenzhen, Guangdong province, China, HONG KONG, Shenzhen Yayue, TikTok, Beijing
☆ China's government is buying Alibaba and Tencent shares that give the Communist Party special rights over certain business decisions, report says
  + stars: | 2023-01-13 | by ( Brian Evans | ) www.businessinsider.com   time to read: +3 min
The Chinese government is buying shares in Alibaba, Tencent and other tech companies, according to the Financial Times. The stakes usually involve a 1% holding and are known as "special management shares." This gives China's Communist Party special rights over certain business decisions, the report said. The stakes usually involve a 1% holding in a key segment and are known as "special management shares," which give Beijing rights over certain decisions at the companies. Meanwhile, details of the Chinese government's plan to buy shares in internet giant Tencent are still under discussion, the report said.
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