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This can often occur when parts of the application are out of their control. For example, geographical apps are hard to recreate locally on the scale of Google or Apple Maps. It's vastly easier and sometimes cheaper to use their API. But if China has any disputes on how it's represented in the geo data, the software becomes a liability.

They don’t want foreign businesses having a solid foothold in the country.

Control is important during both global decoupling and potential geopolitical conflict (Taiwan).

More likely Tencent will own the land and physical infrastructure but it will still be Akamai software operated by Akamai employees.