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Xi Jinping is trying to narrow the gap between rich and poor by cracking down on tech giants and billionaires – to achieve “common prosperity”. But why now, and what are the implications for China’s economy?
Xi Jinping is trying to narrow the gap between rich and poor by cracking down on tech giants and billionaires – to achieve “common prosperity”. But why now, and what are the implications for China’s economy?
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.
BEIJING -- The ruling Communist Party is tightening political control over China's internet giants and tapping their wealth to pay for its ambitions to reduc...