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

Tencent is in the process of seeking further clarification from relevant parties on the executive order from the Trump administration.

The Tencent Holdings Ltd. WeChat app is displayed in the App Store on a smartphone in an arranged photograph taken in Arlington, Virginia, U.S., on Friday, Aug. 7, 2020. President Donald Trump signed a pair of executive orders prohibiting U.S. residents from doing business with the Chinese-owned TikTok and WeChat apps beginning 45 days from now, citing the national security risk of leaving Americans' personal data exposed. Photographer: Andrew Harrer/Bloomberg (Bloomberg)

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.