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As China continues to crack down on big tech in the country, the tycoons behind these firms have increased charitable contributions too.
The age of unfettered gains for China’s ultra-rich now appears to be coming to an abrupt end.
BEIJING, July 6, Global Times: China's cyberspace regulator on Monday put three more internet platforms under scrutiny, three days after it announced a review of cybersecurity into the country's top ride-hailing platform Didi Chuxing, indicating the country's resolve to clamp down on data breaches and misuse as part of a broader move to protect the digital economy from unchecked expansion of capital.
BEIJING/HONG KONG (Reuters) - Ride-hailing giant Didi Global Inc said a regulatory order that its app be removed from app stores in China could hurt revenue, while other newly US-listed Chinese firms also found themselves the subject of cybersecurity investigations.
As many as 36 Chinese companies have raised a total of US$12.59 billion in US markets as of June 30, the highest amount on record, according to DealogicWashington’s ‘efforts to force financial decoupling between the US and China have made little progress’, says analyst
China expanded a cybersecurity probe beyond Didi Global Inc to include two other recent US debutantes, moving with surprising swiftness to tighten its control over Internet data in the interests of national security.
Tycoons spotting: Hui Ka-yan, Wang Xing, Lei Jun and Hong Kong’s trio seen at Communist Party’s centenary party in Beijing
Their attendance at such a high-level gathering will be seen as a signal that top policymakers are softening their stance towards the two companiesFood delivery giant Meituan is under investigation by antitrust watchdogs, while developer China Evergrande has faced pressure to clear its debts
KUALA LUMPUR: ManagePay Systems Bhd and Singapore-headquartered iFAST Corporation Ltd are among the latest companies which have submitted an application for a digital banking licence to Bank Negara Malaysia.
AN ASIAN technology fund manager is buying into China’s internet stocks, shrugging off what he calls "noise” around regulatory tightening by Beijing and rising U.S. bond yields
China’s No 2 short video-sharing app operator joins rival ByteDance and Tencent as Internet platforms with one billion monthly active users. Kuaishou’s tally covers all of its existing platforms in China as well as those on its Kwai and Snack Video apps targeted at international markets.