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Red Lines: China and Big Tech
China and the US may not see eye to eye on a number of issues, but both seem to agree that their large Internet platform companies may have grown too big and powerful. Fueled by new anti-monopoly regulations and a four months-long investigation, authorities slapped a record $2.8 billion penalty on one of its national champions, Alibaba, and vowed to revamp its Fintech powerhouse Ant Group. 34 other tech giants including Tencent, Baidu, Meituan and Bytedance have been put on regulatory notice as well. In Red Lines: China and Big Tech, Bloomberg's Stephen Engle takes a close look at the evolving regulatory environment for Big Tech in China, and the impact it will have on China's innovative national champions.
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