Chinese regulators are seeking to implement far-reaching rules about the algorithms technology companies use to recommend videos and other content.
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Chinese technology shares rallied in Hong Kong on Monday as bargain hunters pounced in the wake of the sector’s worst rout in months.
Even a $1.5-trillion selloff may not provide an attractive entry point for equity investors as they grapple with cascading risks in China’s technology sector.
President Xi Jinping put China’s wealthiest citizens on notice on Tuesday, offering an outline for “common prosperity” that includes income regulation and redistribution, according to state media reports.
Chinese regulators on Tuesday issued a lengthy set of draft regulations for the Internet sector, banning unfair competition and restricting the use of user data.
China’s unprecedented crackdown on its technology industry has turned Tencent Holdings from a market darling into the world’s biggest stock loser this month.
International investors are feeling bruised and uncertain as days of heavy selling hammered China’s top technology stocks that began to seep into currency and debt markets.
China’s leadership perceives the same set of problems as the West when it comes to Big Tech. But it’s willing to go a lot further to rein in the clout of its tech giants. Investors should be afraid.
China’s antitrust regulator is set to order Tencent to give up exclusive rights to music labels that it’s used to compete with smaller rivals, two people with knowledge of the matter said.
China has issued a sweeping warning to its biggest companies, vowing to tighten oversight of data security and overseas listings just days after Didi Global’s contentious decision to go public in the US.