China vows to curb technology firms’ influence on governments

While the pledge to renew the government’s anti-corruption campaign also targets state-owned enterprises and the financial sector, it is more bad news for the nation’s tech giants, which have been grappling with Beijing’s tightened regulations on areas ranging from digital finance and data security to online games and overseas listings. — Bloomberg

China vowed to curb the influence of tech companies on governments as part of a sweeping statement reaffirming the party’s vow to break the ties between money and power in a range of industries.

In a communique released following the plenary session of the Chinese Communist Party’s top anti-graft group, the government said it wouldn’t relent on political factions and interest groups within the party and will zoom in on corruption underpinning the disorderly expansion of capital and monopolies, state news agency Xinhua reported on Thursday.