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JohnCM

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Re: ksuave post# 5267

Monday, 09/25/2017 7:30:11 PM

Monday, September 25, 2017 7:30:11 PM

Post# of 8257

Chinese internet regulators fine Baidu, Weibo, and Tencent

Sep. 25, 2017 12:48 PM ET
By: Brandy Betz, SA News Editor

Chinese internet regulators have hit Tencent (OTCPK:TCEHY -3.8%), Baidu (BIDU -3.2%), and Weibo (WB -4.8%) with the maximum fines allowable under new cybersecurity laws.

The Wall Street Journal reports that the fines were due to banned content including fake news and pornography.

Fine amounts weren’t specified by the law says network operators can receive an up to $75K fine and have operations paused or licenses canceled.

Fined parties include Tencent’s WeChat app, Baidu’s Teiba message board, and the microblogging site Weibo that’s partly owned by Alibaba.

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