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It issued the company a small fine, roughly $75,000, but also forced it to abandon exclusive deals it had with record companies for its music business, arguing that an acquisition had given it excessive market share.

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On Saturday, China’s market regulator separately took action against Tencent, invoking the country’s antimonopoly law. Tencent, which owns 17 of Meituan, has been engaging with financial advisers in recent months to work out how to execute a potentially larg. WeChat is owned by Tencent, which isn’t a household name in the US, but is one of the most valuable companies in the world. The ban follows an executive order against the app in August that barred US companies and individuals from making any transactions with WeChat.

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In its statement Tuesday, Tencent sought to play down the suspension, but acknowledged the hand of the government, saying the security upgrade was “to align with all relevant laws and regulations.” The Trump administration has banned WeChat in the US beginning on Sunday. The company’s shares are down more than 40 percent from when they were listed at the end of last month. Regulators opened an investigation into the company this month, eventually ordering its apps off mobile stores until the investigation concluded. WeChat, with its near ubiquity in China, has become an invaluable tool for the government to monitor and censor user content.

Tencent’s worst scrape with Beijing has come through a company it has invested in, the ride-sharing business Didi. Over the past month alone, Chinese officials have mandated security reviews for internet firms seeking to list their shares abroad and barred tutoring companies, many of which operate online, from making a profit. Thus far, Tencent has managed to steer clear of the worst of a nine-month spree of government scrutiny on China’s high-flying tech sector that has led to multibillion-dollar fines, suspensions of app services and tumbling share prices for its rivals as well as companies it has invested in. That’s because Tencent Holdings Ltd., the company that owns WeChat, has for years worked to keep the app aligned with the values of China’s ruling Communist. World China's Tencent rebrands WeChat work app as WeCom ahead of Trump ban China's Tencent rebrands WeChat work app as WeCom ahead of Trump ban Tencent, that owns WeChat, has rebranded the WeChat work app as WeCom, days ahead of the ban announced in the US by President Donald Trump.

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