China set to shift policies to rein in domestic tech giants

GENLI.ORG

BEIJING — The government of Chinese President Xi Jinping intends to shift policies regarding its control over the country’s major tech companies such as Alibaba Group and Tencent Holdings, according to sources close to the government. The move is apparently aimed at revitalizing the internet sector and propping up the Chinese economy, which is losing momentum amid the Russian invasion of Ukraine and the country’s zero-COVID policy.

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