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Xi’s next target in tech crackdown is China’s vast reams of data
By unleashing the data market’s value and potential, the Chinese president is positioning
the nation to become a leader in transforming the world economy
By Colum Murphy / Bloomberg
With Chinese President Xi Jinping (習近平) targeting China’s massive tech giants, the big question now is how he would get them to share key data as part of a sweeping plan to transform the world’s second-biggest economy.
Until recently, China’s megafirms, such as Jack Ma’s (馬雲) Alibaba Group Holding Ltd and Tencent Holdings Ltd, have operated in a similar way to US counterparts Facebook Inc and Alphabet Inc, harnessing user data to refine an expanding array of digital services. Since more data lead to better products, the tech platforms often become natural monopolies giving them enormous wealth and power that also opens the door for abuses.