Amid escalations in the tech war, Bytedance has applied for five financial licenses in Hong Kong through its local subsidiary.
Why it matters: If approved, the licenses would allow Bytedance to sell securities and futures, trade foreign currency, as well as offer advisory and asset management services in Hong Kong.
- Bytedance will be competing with Alibaba and Tencent, which have already established a presence in Hong Kongs online brokerage and financial advisory markets through local…
