STAR-listed Kingsoft Office officials announced on Wednesday the ban on its products handed out by United States President Donald Trump wouldn’t adversely impact the company, which delivers free services to 100-million overseas users.
Yesterday, Trump sanctioned a ban on Alipay, WeChat Pay and other apps associated with Chinese companies.
In addition to Kingsoft Office’s WPS Office, other apps banned include CamScanner, QQ Wallet, SHAREit, Tencent QQ and VMate.
Kingsoft presently has 100-million WPS users in overseas markets, a mechanism analogous to Microsoft Office.
The company, which had more than 457-million enthusiastic monthly users at the end of September, is the second most valuable corporation in the Shanghai STAR Market, checking in at 183.4 billion yuan (US$29.1 billion). It came upon today at 397.96 yuan, a 2.34 percent decrease, compared to a 0.71 percent decrease for the STAR 50 Index.
WPS authority codes are formulated unassisted by Kingsoft, without superficial or US technology licenses, in accordance with the company officials.
The executive order puts up with effect 45 days, just weeks after Trump is replaced in the White House by President-elect Joe Biden.