Beijing pressed ahead with moves to assert greater control over technology companies, continuing a campaign that’s roiled financial markets from New York to Shanghai.
In a flurry of action Friday, authorities summoned the country’s largest technology companies for a warning on data security, vowed tighter oversight of overseas share listings and accused ride-hailing companies of anti-competitive behavior. The Ministry of Industry Information Technology on Friday told 25 of China’s largest internet and hardware companies, including Alibaba Group Holding Ltd. and Tencent Holdings Ltd., to carry out internal reviews and rectify issues ranging from data security to consumer-rights protections.
In a flurry of action Friday, authorities summoned the country’s largest technology companies for a warning on data security, vowed tighter oversight of overseas share listings and accused ride-hailing companies of anti-competitive behavior. The Ministry of Industry Information Technology on Friday told 25 of China’s largest internet and hardware companies, including Alibaba Group Holding Ltd. and Tencent Holdings Ltd., to carry out internal reviews and rectify issues ranging from data security to consumer-rights protections.