- The app of online recruitment services company Kanzhun Ltd (NASDAQ:BZ) and two apps of the logistics platform Full Truck Alliance Co Ltd (NYSE:YMM), namely, Yunmanman and Huochebang announced the resumption of new user registrations, Reuters reports.
- The apps were under review by China’s cyberspace regulator.
- The Chinese government recently expressed support for the domestic tech industry, which had been undergoing intense scrutiny.
- JD.com, Inc (NASDAQ:JD) renewed the three-year strategic cooperation agreement with Tencent Holding Ltd (OTC:TCEHY).
- Tencent will continue to offer JD.com prominent Level I and Level II access points on its Weixin platform to provide traffic support.
- They look to continue cooperating in several areas, including communications, technology services, marketing and advertising, and membership services.
- JD.com will issue shares worth $220 million to Tencent towards the agreement.
- Tencent sold a $16.4 billion stake in JD.com to Walmart Inc (NYSE: WMT) in 2021, Reuters reports.
- Tencent, which first invested in JD.com in 2014, owns a 2.7% stake in the company as of March 25.
- Price Action: YMM shares traded higher by 7.93% at $9.94 in the premarket on the last check Wednesday. BZ shares traded higher by 4.55% at $28.05.
