ET NOW Spotlight | Deepening Crackdown On Big Tech In China Could Signal Policy Shift

China’s crackdown on Jack Ma last year, then the country’s richest man, was viewed as some as a reaction by President Xi Jinping to Ma’s public criticism of Chinese regulators. But, a widening of the crackdown by the Chinese Communist Party smacks of a rather dramatic shift in policy – one that has spooked international investors.
Regulatory whips have been cracked across the board. Didi Chuxing was subject to investigation just days after its U.S. IPO, following which, its applications were pulled off mobile stores. The stock plummeted and at one point this week was trading over 30% below its issue price. Besides that, the Chinese government said the education sector in the country had fallen prey to capitalism – and mandated that a large number of companies engaged in education technology would not be allowed to make profits and would be restricted from raising capital abroad.
There were also moves to curb prices of real estate and reign in food delivery businesses.
What do these staggering regulatory moves mean for big tech in China? Is it a shift in industrial policy – a reaction to the trade war with the U.S.? And will the flight of capital from China benefit India’s burgeoning tech sector. Find answers to those questions on this week’s episode of ET NOW Spotlight.
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Видео ET NOW Spotlight | Deepening Crackdown On Big Tech In China Could Signal Policy Shift канала ET NOW