China’s Cybersecurity Agency says its increasing regulations have improved its handling of the internet
The Cybersecurity Administration of China (CAC) has summoned more than 3,400 people, fined 283 and banned 177 apps from local app stores for violating its internet management rules and regulations.
China’s cybersecurity watchdog punished 283 platforms
China’s cyberspace watchdog said that in the first half of this year it had made significant achievements in controlling internet platforms and “continued to strengthen online law enforcement”. .
According to a report on the watchdog’s official WeChat account on Sunday, the CAC summoned more than 3,400 platforms in the first half of 2022, of which 283 were sanctioned and banned 177 apps from local app stores for violating laws and regulations.
The CAC article also said regulators had held talks with representatives of Chinese microblogging platform Weibo and Tencent Holdings’ super multipurpose app WeChat about “illegal” content appearing on their platforms.
Leading internet search firm Baidu and Microsoft’s own Bing service have also come under fire from authorities over related issues. The Chinese government ordered Microsoft to temporarily stop the auto-suggest feature of its Bing search engine in December last year.
E-commerce platforms have not escaped scrutiny. As some of the online shops on these platforms had “materials that violated law and regulation”, regulators negotiated with five outlets, including Tencent’s WeChat Store, JD.com, Pinduoduo, Taobao Marketplace and JD.com .
The headquarters of popular social media site Douban, known as a haven for generally liberal online conversations, was visited in March by a special team, according to China’s internet censorship authority, to combat “serious unrest on line”.
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China and Russia are hurting the profits of tech giants like Microsoft
Events in another country harm Microsoft’s business. The IT giant blamed events in China and Russia, such as the former’s prolonged Covid lockdowns and the latter’s dispute with Ukraine, for the below-expected results on July 26.
Microsoft posted revenue of $51.9 billion and profit of $16.7 billion, up 12 and 2 percent from the same period last year, respectively, but less than analyst expectations surveyed by Refinitiv.
The company noted in its results that “prolonged production shutdowns in China” cost it $300 million. He also said he spent $126 million to “drastically reduce” his activities in Russia following the conflict in Ukraine.
However, there were also more general issues. Along with Microsoft’s search and information businesses, LinkedIn’s job platform also suffered from a drop in advertising spending, which led to a drop in revenue of more than $100 million.
Microsoft said it attempted a “strategic restructuring” of its operations amid a general decline in the IT sector, spending $113 million in severance packages (excluding Russia). In after-hours trading, Microsoft shares fell nearly 1%.
However, there were a few positives, most notably Microsoft’s cloud business. Compared to the same quarter last year, the company’s cloud revenue for the quarter increased 28% to $25 billion.
In a statement, Microsoft senior vice president and chief financial officer Amy Hood said the company has seen strong demand, gained market share and increased customer engagement for its cloud platform in a market competitive. According to Haris Anwar, senior analyst at Investing.com, the growth of cloud computing demonstrates Microsoft’s tenacity.
The results reflect the severe economic circumstances affecting virtually all major IT companies, he added. He said Microsoft would benefit from strong cloud performance, showing that businesses large and small continue to invest in IT infrastructure even as the economy declines.
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