China’s tech clampdown may be the story of the day, but it ain’t the only one.
In the past few years, China has become a major player in the growing tech world. The country’s rapid rate of innovation in the digital economy has led to its tech boom. However, that is changing. China announced new regulations recently, cracking down on what is considered “unhealthy” behavior in the digital economy. These policies include a ban on financial apps that offer cash incentives to users for sending out large amounts of text messages.
China has been known as an internet superpower, but the country has been cracking down on some popular apps and services in the last several months. This includes games, social media, music, and messaging apps, among other things. The move to block some of these sites and services is part of a wider effort by the Chinese government to tighten internet controls, described in a report by the state-run Xinhua news agency.. Read more about taiwan and let us know what you think.Taipei – The latest salvos in China’s campaign against its technology companies make one thing clear: Jack Ma It’s not just companies that are under the microscope of regulators. What began as a government crackdown on the anti-competitive practices of China’s internet giants has evolved into a broader clean-up of the country’s fast-growing and, until recently, free-spending technology sector. Not a week seems to go by without Chinese regulators suing tech companies for alleged violations ranging from inconsistent pricing to user privacy violations to harsh working conditions. In May, China’s cyber regulator accused 105 apps, including job search apps and short videos, of illegally collecting and using personal data. He asked the companies to resolve the problems within three weeks or face legal action. The orders came days after 117 other apps were ordered to fix problems with user data. Regulators have also met with ride-sharing services about possible driver abuse, and Internet companies have been ordered to change their data and credit practices. Authorities have also criticised delivery platforms for what they see as misleading pricing tactics. In less than six months, Chinese tech giant Ant has gone from planning a major IPO to restructuring in response to central bank pressure. Although the United States is also focusing on key technologies, China is faster in this area. Illustration photo: Sharon Shea For tech companies, the request to meet with regulators sends a signal to the public and investors that regulators are giving companies a chance to fix their problems rather than launching a formal investigation, according to people familiar with the investigation. According to those surveyed, this has led some technology companies to seek their place in the hotspots, putting pressure on researchers. China’s goal is to get companies to comply with regulations without government intervention, he said. Angela Zhang, Associate Professor of Law at the University of Hong Kong, author of China Antitrust Exceptionalism. Until now, regulation of mobile applications in China has focused on controlling controversial or inappropriate content. The crackdown on such content on social media continues in the country: Xiaohongshu, a popular social media and e-commerce app, has become the latest target of internet regulators after it posted on Twitter Weibo last week commemorating the anniversary of the 1989 Tiananmen Square crackdown and had its account closed, The Wall Street Journal reported. At the same time, the latest round of regulation targets a wider range of abuses, many of which have long been considered the norm in a thriving and poorly regulated sector. China has one of the thinnest traditions of antitrust law of any major economy in the world and has always used these regulations to limit the market power of foreign companies. Domestic Internet companies have largely been left to fend for themselves as China seeks to develop its own technology industry. Things began to change late last year, when the IPO of financial technology giant Ant Group Co. was canceled, days after its biggest shareholder, Mr. Ma, made a speech that infuriated state leaders. In December, China launched an investigation into Alibaba Group Holding Ltd. BABA 0.91 which was also co-founded by Mr. Ma. In April, regulators imposed a record $2.8 billion fine on Alibaba. They found that the company had abused its dominant position by engaging in the practice of er xuan yi, which literally means choosing one from two. Such allegations have plagued China’s e-commerce sector for years, leading to public complaints and lawsuits without any concrete evidence.
A Meituan employee scans his face with his phone before starting work. The food delivery giant faces an antitrust investigation by China’s top market regulator.
Social media influencer and grandmother Ruan Yaqing records a video in a Beijing park for her channel on Douyin. Video sharing app is one of the apps that regulators are taking to task for inappropriate data collection.
Photo: Greg Baker/Agence France-Presse/Getty Images According to Zhang, local governments have also become more involved in technology platforms. Shanghai’s market regulator recently fined Ele.me, Alibaba’s delivery app, 500,000 yuan, equivalent to about $78,000, for violating China’s food pricing and safety laws. Alibaba did not respond to a request for comment. The Shanghai Consumer Protection Committee said it has questioned Meituan and the e-commerce company. Pinduoduo Inc. in May for allegedly misleading online claims, product quality and non-delivery. Meituan and Pinduoduo did not respond to requests for comment.
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How do you think China’s attempts to clean up its technology sector will play out? Join the discussion below. Chinese regulators have also called on the country’s citizens to cooperate in monitoring the behavior of technology companies. Regulators have indicated in their announcements that many of the recent warnings were based on user complaints. These complaints have been coming for some time and it was inevitable that measures to protect consumers and SMEs would follow, he said. François Renard, Partner and head of Allen & Overy’s antitrust practice in Greater China. What’s impressive, of course, is that this is all happening at the same time. Last month, eight government agencies, including China’s Ministry of Transport and Ministry of Public Security, summoned eight transportation companies, including giants Didi Chuxing Technology Co. and Meituan, to justify growing public concern over drivers’ rights.
China restricts the activities of technology companies
Related documents selected by the editors Didi did not respond to a request for comment. The company has described its pricing mechanisms in detail in WeChat Post in May and thanked the public for their comments and criticisms. Tech companies have responded to these allegations by promising to be good corporate citizens. In a conference call on 28. Mei, Meituan’s CEO Wang Xin. said the company had assembled a team to work with regulators in the investigation and remained committed to social responsibility. According to a document released Thursday, Mr Wang transferred shares worth HK$17.3 billion, or $2.3 billion, to his personal fund. The donations will be used to fund education and research projects, Meituan said. April, Tencent Holdings Ltd. TCEHY 1.53 Director-General Pony Ma. said the company will allocate $7.7 billion to fund projects related to the public good, rural renewal and carbon neutrality, among others. The games and social media giant has been condemned by regulators this year for, among other things, financial services risks and failing to properly account for past acquisitions. If we use our technology and products to achieve greater societal benefit, I think we will be better received overall by our users, customers, government and employees, he said. Martin Lau, Tencent’s chairman, when the results were announced last month. -Keith Zhai and Raffael Huang contributed to this article. Email Stephanie Young at email@example.com. Copyright ©2020 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8This past week, the largest tech company in the world, Tencent, was attacked by the Chinese government. The government has moved to ban the use of foreign messaging platforms, like Whatsapp and Telegram, as part of a crackdown on ‘online rumours’. But what is a rumour, exactly? And how does it relate to online Chinese censorship?. Read more about china nuclear and let us know what you think.
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