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China s crackdown on its biggest companies Issued on: 29/07/2021 - 05:52 Tech titan Tencent is among the many companies swept up in China s crackdown across multiple industries NOEL CELIS AFP/File 5 min Beijing (AFP) With market-trembling new rules and investigations, Beijing s crackdown on its most prominent companies has seeped into nearly every aspect of modern life, wiping billions of dollars from Chinese and Hong Kong-listed stocks and bamboozling investment sages. From after-school tutoring to music streaming apps, and shopping to bike-sharing, stellar firms have been hit as Beijing tightens the leash on corporations, citing national security and antitrust concerns. Whether motivated by the control reflexes of the Communist Party or to avoid market contortions hurting the pockets and safety of the Chinese public, few expect this to be the end of the crackdown. ....
With market-trembling rules, China cracks down on big firms kuwaittimes.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kuwaittimes.net Daily Mail and Mail on Sunday newspapers.
These Chinese internet companies have enormous potential given the size of their markets and opportunities in those regions, said Citi's David Bailin. ....
Translation: Detention of Takeout Driver Advocate Highlights Digital-era Labor Abuses Posted by Josh Rudolph | Mar 4, 2021 The strike comes after Xiong Yan, who headed an unofficial union formed by workers for the food delivery app Ele.me and other services, was detained in Beijing last month. His whereabouts are still unknown. According to several people familiar with the situation, Ele.me workers have been on a go-slow or refusing to work at all since Xiong’s “disappearance,” resulting in a sharp rise in timed-out orders. A person familiar with the situation who gave only a surname, Zhang, said Ele.me riders are considering a nationwide strike on Monday to protest the platform’s treatment of riders and Xiong’s presumed detention. ....