China Comes For Its Tech Giants
Bloomberg Businessweek|January 25, 2021
The Chinese government’s crackdown on the country’s largest technology companies has raised fears that the industry could be paralyzed or cast into disarray as the economy enters a delicate moment. But one contingent within the tech sector is privately cheering on a broad set of anti-monopoly edicts: startups and their investors.
By Coco Liu and Zheping Huang

“The introduction of antitrust rules will indeed create more space for startups to grow,” says Zhou Xiang, a managing director at China Renaissance Group who oversees its early-stage investments. “Previously we had witnessed venture capitalists dropping a deal just because of concerns that the tech giants may one day step into the same area in which the startup operates. The antitrust law has eased such concerns moving forward.”

Continue reading your story on the app

Continue reading your story in the magazine

MORE STORIES FROM BLOOMBERG BUSINESSWEEKView All

The Decline of a Great American Tech Company

How Intel lost its way

10+ mins read
Bloomberg Businessweek
April 12, 2021

Gaming the Gig Economy

A group of DoorDash workers are trying to set a minimum rate for deliveries

4 mins read
Bloomberg Businessweek
April 12, 2021

Asian Americans Are Ready for a Hero

After going from “model minority” to invisible minority to hunted minority, the community needs a new generation of cultural and political leaders

9 mins read
Bloomberg Businessweek
April 12, 2021

How Toyota Dodged The Chip Shortage

As rivals shutter plants, the automaker’s close monitoring of its supply chain gives it an edge

5 mins read
Bloomberg Businessweek
April 12, 2021

COURSE CORRECTION

A plan to renovate public links in the U.S. capital aims to bring golf back to the community

7 mins read
Bloomberg Businessweek
April 12, 2021

Wrapper's Delight

Temporarily changing a car’s appearance is becoming a lasting passion among collectors.

3 mins read
Bloomberg Businessweek
April 12, 2021

WON'T YOU BE HIS NEIGHBOR?

Mayor Francis Suarez goes on a charm offensive to lure techies—and Elon Musk—to Miami

6 mins read
Bloomberg Businessweek
April 12, 2021

Austin, Reluctant Boomtown

Residents fear that the wave of tech workers arriving will turn the city into San Francisco

5 mins read
Bloomberg Businessweek
April 12, 2021

Your Facebook Friend Has Some Thoughts To Share About Your Covid Vaccine

Mark Zuckerberg wanted to make Facebook a source of reliable information about the pandemic. Instead he created a perfect platform for conspiracy theorists

10+ mins read
Bloomberg Businessweek
April 12, 2021

A Squeeze on the Global Middle Class

An estimated 150 million people slipped down the economic ladder in 2020, the first setback in almost three decades

10 mins read
Bloomberg Businessweek
April 12, 2021