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China moves to further tighten control of technology sector with new rules
- Tuesday | 17th August, 2021
SHANGHAI (Reuters) -China moved on Tuesday to tighten control of its technology sector, publishing detailed rules aimed at tackling unfair competition and companies’ handling of critical data. On Tuesday, the State Administration for Market Regulation (SAMR) issued a set of draft regulations banning unfair competition and restricting the use of user data. Shares in Hong Kong-listed internet stocks slid after the rules were published. Soon after the draft tech rules were published, China’s cabinet announced it would also implement regulations on protecting critical information infrastructure operators from Sept. 1. (Reporting by Josh Horwitz and Brenda Goh in Shanghai, Yingzhi Yang in Beijing; Editing by Lincoln Feast and Jason Neely)Related article:
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