Tech giant, Apple (NASDAQ: AAPL) is enforcing new compliance requirements for apps in China. The company has started asking app developers in China to submit the “internet content provider (ICP) filing” when they publish new apps on its China App Store, according to a Reuters report.
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An ICP filing is a registration system that is required by law for websites to operate in China. Many local app stores, including those operated by Tencent (TCEHY) and Huawei, have adopted it since 2017. An ICP license serves as an obstacle for foreign apps, as to get this license, app developers need to have a company in China or work with a local publisher.
China is Apple’s third largest market behind the U.S. and Europe. Chinese regulators are increasing their oversight of mobile apps after stating in August that all app stores and developers will be required to submit an “app filing” containing the business details to regulators.
Is Apple a Buy Sell or Hold?
Analysts are cautiously optimistic about AAPL stock with a Moderate Buy consensus rating based on 21 Buys and eight Holds.
