The Chinese government will invest in two of the most important tech companies, ByteDance, the Chinese company that owns the global video app TikTok, and Weibo, the Chinese version of Twitter, to strengthen its influence on China’s prosperous technology sector. It seems that the purpose is. In April, ByteDance sold a 1% stake in its Chinese subsidiary Beijing ByteDance Technology Co. to state-owned WangTouZhongWen (Beijing) Technology, according to government records and corporate information platform Qichacha. WangTouZhongWen is owned by three state agencies in China, one of which is linked to a fund backed by China’s Internet surveillance agency, the China...