Two executives who mishandled allegation have also resigned
The Shenzhen-based company reported a 38% decline in sales to 168.2 billion yuan ($26 billion) in the three months ended in June
In a flurry of action Friday, authorities summoned the country's largest technology companies for a warning on data security, vowed tighter oversight of overseas share listings
The US Defense Department said on Friday that systems made by Chinese manufacturer Da Jiang Innovations pose potential threats to US national security
Alibaba Group Holding Ltd and Chinese state-backed firms are exploring bids for a stake in Unisplendour Corp, a cloud computing infrastructure firm, that could fetch as much as $7.7 billion
US Department of Commerce has blocked 14 Chinese tech companies, including one with funding from top US-based investment firm Sequoia Capital, over links to human rights abuses against Uyghur Muslims
Move adds to the unprecedented crackdown in China on domestic tech firms
Beijing has in recent months announced a new "dual circulation" model of growth to steer China's economy
The offer of financial assistance represents a new tool Washington is deploying as it broadens the tech Cold War with China
US has strengthened restrictions on China's Huawei Technologies and sanctioned China-owned apps TikTok and WeChat.
Michael Pompeo says certain employees of Chinese tech companies like Huawei provide material support to governments involved in rights abuses
US Secretary of State Mike Pompeo has threatened to ban the app over surveillance concerns
They believe the move is arbitrary and discriminatory and violative of Article 14 of the Constitution
It may present a model for other countries from Europe to Southeast Asia that seek to curtail the pervasiveness of apps like ByteDance's TikTok while safeguarding their citizens' valuable data.
Government regulators have discussed stakes in Tencent, Weibo and an Alibaba subsidiary