Tencent says US executive order only affects WeChat, not its other businesses

Tencent's chief financial officer said on Wednesday that the firm understood that the U.S. executive order was focused on its WeChat app in the United States and not on its other businesses in the country.

FILE PHOTO: People walk past a Tencent sign at the company headquarters in Shenzhen, Guangdong province, China August 7, 2020. REUTERS/David Kirton/File PhotoSHANGHAI/HONG KONG: Tencent's chief financial officer said on Wednesday that the firm understood that the U.S. executive order was focused on its WeChat app in the United States and not on its other businesses in the country.

The company is in the process of seeking further clarification from relevant parties on the executive order from the Trump administration, John Lo said during an analyst call following the firm's second-quarter results.He added that the firm's WeChat app that is being targeted in the U.S. was different from Weixin, the Chinese name its app is known by in China.

The United States said last week it would ban WeChat-related transactions in the country in September.

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