News Snapshot:
Bytedance delays IPO to 2022 The TikTok owner is reportedly awaiting governmental approval, which unlikely to come until the Communist Party’s 20th congress takes place next autumn. ByteDance was also supposedly advised “not to rush” its public listing. However, a representative from the company said that it does not have plans to launch an IPO. This development comes amid heightened scrutiny on Chinese tech firms as the state cracks the whip on issues related to regulations and monopoly. Tencent gets compensation from website trading WeChat accounts Tencent recently sued a website promoting unfair competition by trading, registering, and unsealing WeChat...
