Tencent Holdings' WeChat, China's most popular messenger app, on Tuesday denied storing users' chat histories, after a top businessman was quoted in media reports as saying he believed Tencent was monitoring everyone's account.

"WeChat does not store any users' chat history. That is only stored in users' mobiles, computers and other terminals," WeChat said in a post on the social media platform.

"WeChat will not use any content from user chats for big data analysis. Because WeChat's technical model that does not store or analyze user chats, the rumor that 'we are watching your WeChat everyday' is pure misunderstanding."

In the post, WeChat maintained that it has neither the authority nor the motive to "monitor your WeChat."

Li Shufu, chairman of Geely Holdings, owner of the Volvo car brand, was quoted in Chinese media on Monday as saying Tencent Chairman Ma Huateng "must be watching all our WeChats every day".

Like all Chinese social media platforms, WeChat is required to censor public posts deemed "illegal". WeChat's privacy policy says it may need to retain and disclose users' information "in response to a request by a government authority, law enforcement agency or similar body."

WeChat's clarification was met with doubt online. One user on news website tech.sina.com pointed out that WeChat is contradicting itself by banning certain activities online, while saying it does not monitor users'chats.