The Cyberspace Administration of China, an agency set up by President Xi Jinping that reports to a leadership group he chairs, increased interagency oversight of companies traded in the United States and elsewhere overseas. The agency also will harden rules related to domestic companies listed on foreign stock exchanges and better coordinate various regulators. That lack of coordination was apparent in DiDi Global’s IPO last month, which was supported by financial regulators but tagged by the country’s cybersecurity regulator. Read more

Beijing-based ByteDance, parent company of social video app TikTok, which was valued at $180 billion in December, indefinitely put plans on hold for a public offering. The company had been considering an IPO in the United States or Hong Kong but its founder and CEO Zhang Yiming changed his mind after meeting with China’s cyberspace and security regulators who reportedly told him to focus on data-security risks and other issues. Another reason for holding off is that the company did not have a chief financial officer at the time. Read more

Teenagers are now turning to TikTok influencers not just for fashion advice but to buy clothing worn by their idols. Several items, including a Lululemon skort, a Gap hoodie and Aerie leggings have gone viral, and retailers including Aeropostale and Abercrombie & Fitch are looking for ways to convert popular TikTok videos into sales. Influencers post #fashionhauls and #OOTD (outfit of the day) as well as #preppy and #closettour. One mother reported that, “my kids come to me all the time now showing me TikTok videos, pointing at them, saying, ‘I want to buy this’ or ‘I think this is cute for the fall’.” Read more

At the Cannes Film Festival’s XR program, VeeR co-founder Jingshu Chen delivered a keynote on monetization of virtual reality, in which she referred to Gartner’s well-known Hype Cycle for Emerging Technologies. She pointed out that Facebook’s 2014 acquisition of Oculus sparked the “peak of inflated expectations,” followed by a downhill path to the “trough of disillusionment” beginning in 2017, when headset sales slumped and some VR companies pulled back. Now, she said, we could be on the upward “slope of enlightenment.” Read more

Samsung debuted its TV Plus streaming service on the Internet, with the ability to cast videos to devices that support Google’s Chromecast to its mobile app. Previously, TV Plus was only available on Samsung’s smart TVs and smartphones. The web-based TV Plus apparently had a soft launch in May but had not yet been publicly announced by the company. With this expansion, TV Plus has become a rival to other free streaming services such as Pluto TV and Tubi. U.S. consumers will have access to about 140 streaming channels. Read more