China Cracks Down on Big Tech
Edtech, fintech, social media, groceries—no sector is spared.
With China’s watchdogs keeping a close eye on the tech giant, Tencent is hoping that more strategic investments will prove lucrative.
All financial and business entities must review their balance sheets and report their ties to the Alibaba affiliate.
Competitors have eaten into Didi’s market share after it was removed from app stores in China last year.
Aside from an overhaul in license review processes, the platforms will also need to improve their drivers’ compensation and welfare.
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