• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Articles
  • News
  • Events
  • Advertize
  • Jobs
  • Courses
  • Contact
  • (0)
  • LoginRegister
    • Facebook
    • LinkedIn
    • RSS
      Articles
      News
      Events
      Job Posts
    • Twitter
Datafloq

Datafloq

Data and Technology Insights

  • Categories
    • Big Data
    • Blockchain
    • Cloud
    • Internet Of Things
    • Metaverse
    • Robotics
    • Cybersecurity
    • Startups
    • Strategy
    • Technical
  • Big Data
  • Blockchain
  • Cloud
  • Metaverse
  • Internet Of Things
  • Robotics
  • Cybersecurity
  • Startups
  • Strategy
  • Technical

At China’s premier internet conference, few address the regulatory elephant in the room

Reuters / 2 min read.
November 25, 2020
floq.to/4mhmk

By Yingzhi Yang and Josh Horwitz

WUZHEN, China (Reuters) – China’s annual World Internet Conference is usually a forum for luminaries from the country’s online giants and government bodies to discuss pressing issues of the day.

But this year, few people spoke of what is expected to be a seismic shift for the industry – plans by the central government announced just this month that aim to rein in a slew of anti-competitive behaviours.

The plans have been described by analysts as the first serious attempt on the part of Beijing’s antitrust authorities to regulate the tech companies whose services pervade Chinese daily life, particularly Alibaba Group Holding Ltd and Tencent Holdings Ltd.

But despite the presence of top officials including the head of the Cyberspace Administration of China, Zhuang Rongwen, and Liu Liehong, vice minister for industry and information, as well as executives from a raft of tech firms, the sensitive topic was barely broached in speeches and panel discussions.

The lone person to touch on it in a keynote speech was Alibaba CEO Daniel Zhang, who called the tightening oversight “very timely and necessary”.

Regulatory ire in China can be fierce and drastic in its consequences. This month regulators slammed the brakes on Ant Group’s $37 billion IPO, thwarting the world’s largest stock market debut just days ahead of its launch and marking a stunning rebuke for Ant and Alibaba founder Jack Ma.

According to the 22-page draft guidelines, Chinese authorities will be looking to curb the unfair use of discounts and subsidies and the use of restrictions placed on businesses that prevent them from selling their goods and services on other platforms.

Regulators have also separately said they are seeking to strengthen oversight of consumer rights and data protection, which will also affect internet companies.

For some observers, greater regulation is a natural development given that incumbent tech giants can prevent rival start ups from thriving.

“When two giants are dominating lots of aspects of the Chinese market, how can others grow?,” Wang Yiwei, professor of international studies at Renmin University in Beijing, said on the sidelines of the conference.

(Reporting by Yingzhi Yang and Josh Horwitz; Writing by Brenda Goh; Editing by Edwina Gibbs)

Categories: News
Tags: BI, CEO, Data, government

About Reuters

Primary Sidebar

E-mail Newsletter

Sign up to receive email updates daily and to hear what's going on with us!

Publish
AN Article
Submit
a press release
List
AN Event
Create
A Job Post

Jobs

  • Software Engineer | South Yorkshire, GB - February 07, 2023
  • Software Engineer with C# .net Investment House | London, GB - February 07, 2023
  • Senior Java Developer | London, GB - February 07, 2023
  • Software Engineer – Growing Digital Media Company | London, GB - February 07, 2023
  • LBG Returners – Senior Data Analyst | Chester Moor, GB - February 07, 2023
More Jobs
Host your website with Managed WordPress for $1.00/mo with GoDaddy!

Tags

AI Amazon analysis analytics app application Artificial Intelligence BI Big Data business China Cloud Companies company costs crypto customers Data design development digital environment experience future Google+ government industry information learning machine learning market mobile Musk news Other public research security services share social social media software strategy technology

News

  • Robinhood sees $100 million costs tied to regulatory issues in third quarter
  • Elon Musk’s X Corp in another legal fight over unpaid rent, this time as plaintiff
  • EU examines Nvidia-dominated AI chip market’s abuses – Bloomberg News
  • Valkyrie Funds halts ethereum purchases for exchange-traded fund
  • China’s Huawei sets up commodities hedging team in Singapore, Hong Kong
More News

Related Online Courses

  • Oracle Cloud Data Management Foundations Workshop
  • Data Science at Scale
  • Statistics with Python
More courses

Footer


Datafloq is the one-stop source for big data, blockchain and artificial intelligence. We offer information, insights and opportunities to drive innovation with emerging technologies.

  • Facebook
  • LinkedIn
  • RSS
  • Twitter

Recent

  • 5 Reasons Why Modern Data Integration Gives You a Competitive Advantage
  • 5 Most Common Database Structures for Small Businesses
  • 6 Ways to Reduce IT Costs Through Observability
  • How is Big Data Analytics Used in Business? These 5 Use Cases Share Valuable Insights
  • How Realistic Are Self-Driving Cars?

Search

Tags

AI Amazon analysis analytics app application Artificial Intelligence BI Big Data business China Cloud Companies company costs crypto customers Data design development digital environment experience future Google+ government industry information learning machine learning market mobile Musk news Other public research security services share social social media software strategy technology

Copyright © 2023 Datafloq
HTML Sitemap| Privacy| Terms| Cookies

  • Facebook
  • Twitter
  • LinkedIn
  • WhatsApp

In order to optimize the website and to continuously improve Datafloq, we use cookies. For more information click here.

Dear visitor,
Thank you for visiting Datafloq. If you find our content interesting, please subscribe to our weekly newsletter:

Did you know that you can publish job posts for free on Datafloq? You can start immediately and find the best candidates for free! Click here to get started.

Not Now Subscribe

Thanks for visiting Datafloq
If you enjoyed our content on emerging technologies, why not subscribe to our weekly newsletter to receive the latest news straight into your mailbox?

Subscribe

No thanks

Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.

Marketing cookies

This website uses Google Analytics to collect anonymous information such as the number of visitors to the site, and the most popular pages.

Keeping this cookie enabled helps us to improve our website.

Please enable Strictly Necessary Cookies first so that we can save your preferences!