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Business Standard: China to further rein in domestic tech giants to revive Internet sector The Edge Markets

May 9, 2022
Source: theedgemarkets.com theedgemarkets.com
News Snapshot:
- A + A (May 3): Alarmed at the slowing tech and internet sector, China is now planning to further shift its policies to control domestic tech giants like Alibaba and Tencent, as the country battles Covid-19 lockdowns, the media reported on Tuesday, said Business Standard . According to a report in Nikkei Asia citing sources, Chinese President Xi Jinping "intends to shift policies regarding its control over the country's major tech companies such as Alibaba Group and Tencent Holdings". "The move is apparently aimed at revitalising the internet sector and propping up the Chinese economy, which is losing momentum...
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Tags: Alibaba | ASIA | Business | China | Chinese | Covid-19 | Economy | EDGE | Internet | media | online shopping | president | report | Russian | standard | technology | Tencent | Ukraine | Xi Jinping

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