(RightWing.org) – Very little happens in the People’s Republic of China (PRC), which doesn’t bear a fingerprint from the Chinese Communist Party (CCP). Big Tech giant Tencent Holdings Ltd is a perfect case in point. Headquartered in Shenzhen, China, it is one of the world’s largest-grossing multimedia companies. Its Bloomberg listing shows the company has $1.5 trillion in assets. It reported a revenue stream in Q1 2023 of $149.9 billion and an operating cash flow totaling $62,2 billion. In short, the company is no joke.
Tencent recently raised alarm bells, however, after it launched a new palm pay service through its WeChat Pay company.
Who Is Tencent?
Founded in 1998, Tencent is the world’s largest video game vendor, markets various internet-related products and services, and runs a massive social media operation. The company also operates several instant messages services like QQ.com, Tencent QQ, and WeChat.
Tencent also has several known connections to the CCP. For instance, Foreign Policy reported that an unnamed senior official with the CIA confirmed that the agency concluded the company received funding through the Chinese Ministry of State Security “early on in its founding,” based on “high-confidence reporting.”
The company’s other partnerships include the development of a mobile game called “Clap for Xi Jinping” for the CCP’s 19th National Congress and a collaborative effort with the CCP’s publicity department and state-run media outlet, the People’s Daily, to develop a series of patriotic video games. Reports also emerged indicating that Tencet was working to create a digital currency with the People’s Bank of China.
CCP Partner Unveils New Palm Pay Technology
Tencent launched a mobile payment system and digital wallet called WeChat Pay, officially known as Weixin Pay, in 2013. Users can conduct online transactions using QR codes and in-app web-based payments, and vendors can integrate the system into their apps. WeChat also provides cross-border settlement, a currency conversion tool.
The South China Morning Post recently reported that Tencent launched a new system of making palm payments through its WeChat Pay app in Beijing on May 21. The new feature allows metro passengers to pay their fares at turnstiles with the wave of a hand. However, the company plans to provide additional service in restaurants, retail outlets, offices, and other establishments throughout mainland China.
Gordon Chang, a noted Chinese expert, recently spoke to Fox News Digital about his concerns regarding the use of that new technology. Noting that President Xi Jinping is attempting to create a “totalitarian state.” Chang warned the use of “palm technology” would bring China one step closer to realizing its goal of obtaining “total social control” of its citizens.
Chang also advised that the CCP was becoming “more effective” at controlling people by forcing Big Tech companies to develop biometric recognition systems. “This is a regime initiative… from the top down,” he concluded.
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