After flourishing for two decades with little regulation, China’s internet industries face a future of tighter control by the ruling Communist Party and pressure to pay for its tech ambitions, social welfare and propaganda
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. Investor jitters have knocked more…
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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.