China’s business and technology enterprises have mixed feelings about the year 2020.
Many tech companies, ranging from TikTok’s parent company ByteDance to semiconductor firm SMIC, were caught between geopolitical tensions. Domestically, the COVID-19 pandemic introduced new growth channels and stimulated industrial digitalization in many sectors. Even now, competition is intensifying.
In the latter half of the year, as the economy recovered and the pandemic waned in China, regulators implemented a series of new antitrust policies, halted Ant Group’s record-breaking USD 34.5 billion IPO at the last minute, and drafted tighter rules for fintech, internet platforms, as well as merger and acquisitions.
As 2020 draws to a close and we enter a new decade, KrASIA looks back on some of the key companies in China through the words of their leaders.