There was a surprisingly muted response to news that Tencent was in discussion with the Chinese government about plans to link exit-entry permits for travelling between mainland China and Hong Kong and Macau to individuals’ WeChat accounts. The Tencent share price ticked up but settled back to about HK$420 ($53.50), where it seems to have been stuck in recent months. The discussions highlight the Chinese government’s commitment to driving technology into as many spheres of public life as possible. It also highlights the close relationship between the government and the country’s leading technology companies and none more so than Tencent. The group’s chairman, Ma Huateng, is a senior figure in the Chinese Communist Party. The hope is that the WeChat app would make travel a little easier. Not everyone is delighted about the plan, particularly those in Hong Kong and Macau who take their legal separation from China very seriously. WeChat is also working to develop a function similar to ...
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