Why China is afraid of its tech cos

In China on 15/11/2020 at 8:08 am

Chinese regulators have drafted new antitrust rules aimed at technology firms like Alibaba and Tencent. They will target a range of practices, including treating customers differently based on their spending behaviour and data. The move follows the suspension of the initial public offering of Ant Group, a fintech firm, days before its flotation in Hong Kong and Shanghai.

What all this shows is that Chinese tech groups such as ecommerce group Alibaba have become a little too western for the liking of Xi and other Chinese leaders.

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