Businesspeople, lawyers and economists say Beijing wants to rein in e-commerce, social media and other companies it worries are too big and independent.
The ruling Communist Party is tightening political control over China s internet giants and tapping their wealth to pay for its ambitions to reduce reliance on U.S. and European technology.
Businesspeople, lawyers and economists say Beijing wants to rein in e-commerce, social media and other companies it worries are too big and independent.
The ruling Communist Party is tightening political control over China’s internet giants and tapping their wealth to pay for its ambitions to reduce reliance on U.S. and European technology. Anti-monopoly and data security crackdowns starting in late 2020 have shaken the industry, which flourished for two decades with little regulation.…
Businesspeople, lawyers and economists say Beijing wants to rein in e-commerce, social media and other companies it worries are too big and independent.