Elevated Chinese-state influence over Alibaba and Tencent, with the Financial Times reporting authorities will take a 1 percent direct stake in each, might raise scrutiny of the companies outside China and slow their expansion. Beijing has already taken a golden share in Tiktok-parent Bytedance and Kuaishou.While it’s unclear how Beijing will ever exercise that holding, analysts have speculated that, beyond gaining a seat or voice at the table, it could also help the government with access to important data. TikTok-owner ByteDance Ltd. and Weibo Corp. are among the major internet firms to have disclosed that sort of arrangement.
China’s Government to Take Golden Shares in Alibaba, Tencent : stocks
by admin | Jan 13, 2023 | Stocks | 0 comments