HomeOtherChina's government tightens grip on big tech groups with 'golden shares'

China’s government tightens grip on big tech groups with ‘golden shares’

Ryan McMorrow and Cheng Leng report from Beijing and Hong Kong

China’s government is moving to take “golden shares” in domestic entities owned by Alibaba and Tencent, formally taking a greater regulatory role over the country’s powerful tech conglomerates.

Hefty fines and harsh punishments, the Chinese government’s signature means of cracking down on big domestic technology groups, have backed away from practices that scare away foreign investors amid a sluggish economy.

While the Chinese government has pulled back its punches, it is increasingly taking small stakes in the homegrown operations of big tech companies, as it recently did with T…

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