The move boosted major Chinese tech stocks in Hong Kong as market heavyweight Alibaba was up more than eight percent and JD.com piling on more than four percent.
The new regulation affects some of China’s largest technology companies, including gaming giant Tencent, as well as gaming company NetEase.
Zynn's interface is a near-clone of TikTok, allowing users to view a continuous feed of short videos. Users also earn points for simply watching videos, which can then be converted into cash.
The announcement comes after call by Beijing last month for a tech-driven structural upgrade of the world's second-largest economy through investment in "new infrastructure" .
Feeling the pinch of rising Chinese tech, the Silicon Valley giants become political to stay in the game.
Football star Mesut Ozil on Friday accused Muslims of staying silent over what he called China’s persecution of Uighurs in Xinjiang Uighur Autonomous Region, prompting anger from China.
Hyundai’s comments come a day after a report cited unnamed industry sources on as saying the two companies planned to conduct joint research and development on safety and security systems for self-driving cars.
The music streaming service, launched in 2008, has become the biggest such company in the world, available in more than 60 countries.
The controversial advert that sees a bride having her teeth and other attributes inspected by her prospective mother-in-law was meant to help revive flagging sales in China. Instead it created a stir and the advert has been pulled.
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