Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

WeChat suspends new user registration for security compliance

reuters.com

Post reply on HN
Print view View original

11–20 of 203 posts

Re: WeChat suspends new user registration for security compliance

#11

Post by fighterpilot »

paganel wrote: post #6
throwaway4good wrote: post #2

"Shares in Tencent plunged 9.0% in Hong Kong on Tuesday amid widespread market jitters over Chinese regulatory crackdowns on high-growth sectors, including online platforms and, most recently, private tutoring. Hong Kong's benchmark Hang Seng Index (.HSI) fell 4.2%." Fascinating how the Chinese authorities seem to be regulating the these companies with complete disregard on how the stock market might react.

> with complete disregard on how the stock market might react. I personally regard this as a positive fact, and I'm generally against the policies of the current Chinese authorities. The stock market should not be the be-all and end-all of our modern society.

It's bad because the "stock market" that people focus on are typically indices of only the largest companies, such as the S&P 500 and Nasdaq. If the concern is around performance of these particular indices, it can lead to more policies that favor large business at the expense of the small.

Re: WeChat suspends new user registration for security compliance

#12

Post by elliekelly »

itake wrote: post #5
throwaway4good wrote: post #2

"Shares in Tencent plunged 9.0% in Hong Kong on Tuesday amid widespread market jitters over Chinese regulatory crackdowns on high-growth sectors, including online platforms and, most recently, private tutoring. Hong Kong's benchmark Hang Seng Index (.HSI) fell 4.2%." Fascinating how the Chinese authorities seem to be regulating the these companies with complete disregard on how the stock market might react.

yeah, I wonder if they do it b/c: 1. the og investors cashed out. leaving retail holding the bag. 2. they buy the stock at a discount

I think they do it because information (and control over that information) is more valuable to them in the long run than whatever economic/financial gains they might sacrifice.

Re: WeChat suspends new user registration for security compliance

#14

Post by atatatat »

paganel wrote: post #9
itake wrote: post #5

Earlier quoted context omitted.

yeah, I wonder if they do it b/c: 1. the og investors cashed out. leaving retail holding the bag. 2. they buy the stock at a discount

Don't think the Chinese government cares about purchasing any Chinese company's stock at a discount, if the need arises they can of course nationalise it almost on the spot.

Chinese government individuals may, especially lower tier ones.

Re: WeChat suspends new user registration for security compliance

#16

Post by mc32 »

throwaway4good wrote: post #2

"Shares in Tencent plunged 9.0% in Hong Kong on Tuesday amid widespread market jitters over Chinese regulatory crackdowns on high-growth sectors, including online platforms and, most recently, private tutoring. Hong Kong's benchmark Hang Seng Index (.HSI) fell 4.2%." Fascinating how the Chinese authorities seem to be regulating the these companies with complete disregard on how the stock market might react.

Naively, it looks like the CCP sees the influence and heft US tech exercises on the US population and world at large.

The CCP will forgo economic might (in this sector) for social stability and control every time. They do not want these titans to have more power or influence than they have so they rein them in and let them know who holds the straps.

Re: WeChat suspends new user registration for security compliance

#17

Post by [deleted] »

itake wrote: post #7
woxko wrote: post #3

Earlier quoted context omitted.

Fascinating that they care more about national security (in their own way) than feeding the already fat shareholders as the US would do.

who are the share holders? Retail investors? Has China ever cared about retail investors? Or does this regulation lower the price so institutional investors get a discount?

[deleted]

Re: WeChat suspends new user registration for security compliance

#18

Post by swuecho »

itake wrote: post #7
woxko wrote: post #3

Earlier quoted context omitted.

Fascinating that they care more about national security (in their own way) than feeding the already fat shareholders as the US would do.

who are the share holders? Retail investors? Has China ever cared about retail investors? Or does this regulation lower the price so institutional investors get a discount?

In China, retail investor are called '韭菜' (Chives). Obviously, nobody care.

Re: WeChat suspends new user registration for security compliance

#19

Post by xwolfi »

paganel wrote: post #15
xwolfi wrote: post #8

.

> retail investor trusting your savings to the success of modern Chinese companies. To be fair retail investors shouldn't do that with their savings anyway (I mean, savings meant for old age or for the children's education).

.

Re: WeChat suspends new user registration for security compliance

#20

Post by rwmj »

kaycebasques wrote: post #13

WeChat registration was a fascinating experience. You download the app and then someone who is already in the system has to verify you via QR code scan. That's how it was when I visited a couple years ago, at least.

Or to be more precise, it works for a few days, then abruptly locks you out until a friend with a China phone number and bank account vouches for you.
Post reply on HN