SHANGHAI (Reuters) – China has launched a multi-pronged crackdown on its tech companies, leaving startups and decades-old firms alike operating in a new, uncertain environment.
Here are sectors that are facing regulatory pressure:
Chinese regulators have slashed the amount of time players under the age of 18 can spend on online games to an hour of gameplay on Fridays, weekends and holidays, in response to growing concern over gaming addiction, state media said on Monday.
China’s State Administration of Market Regulation (SAMR) said on Monday it would further regulate the sharing economy, a sector which includes companies facilitating ride-sharing, bike-sharing, home sharing and even the pooling of battery packs for phones.
TECH COMPANIES EYEING IPOs
China is framing rules to ban internet companies whose data poses potential security risks from listing outside the country, including in the United States, according to a person familiar with the matter.
The ban is also expected to be imposed on companies involved in ideology issues, said the person, declining to be identified as the matter is private.
China is building its own state-backed cloud system, “guo zi yun”, which translates as “state asset cloud”, in a direct threat to tech giants such as Alibaba, Huaweiand Tencent Holdings.
The Chinese city of Tianjin has asked municipally controlled companies to migrate their data from private sector operators like Alibaba Group and Tencent Holdings to a state-backed cloud system by next…
