XI’S GOTTA HAVE IT: Tencent, others begin enforcing China’s new oversight move on apps.
Mobile app stores in China run by Tencent Holdings (0700.HK), Xiaomi (1810.HK) and others have started to bar app publishers from launching new apps if they do not make all the disclosures required by authorities, documents seen by Reuters showed.
The moves comply with new rules introduced last month as Beijing tightens oversight of mobile apps in the country. The rules are causing consternation in the industry that publishing apps in the world’s second largest economy will become very difficult and many apps may need to be taken down.
The new rules, which require mobile app publishers to file business details with the government, gave app stores in China until the end of August to establish their filing systems to oversee new apps.
“The Android app stores have confirmed that new apps require the app filings from Friday onwards, and existing apps must have it from March 31 onwards,” Rich Bishop, CEO of app publishing firm AppInChina said.
“It forces all global apps on these app stores to either establish a local entity or work with a local partner.”
What I’m reading into this is that the CCP will have the ability to get access to anyone’s source code.