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China’s tech sector rushes to get ahead of ‘unprecedented regulatory heat’
- Thursday | 12th August, 2021
BEIJING (Reuters) – Fretting about unprecedented regulatory heat for China’s tech sector, some companies are no longer waiting for any official reprimands that may or may not be forthcoming. The term is increasingly used by state media and is similar in tone to ‘self-criticism’ – a practice encouraged by China’s Communist Party. That came just hours after its shares were battered by a state media article which described online games as “spiritual opium”. Twitter-like Weibo also pulled an online list that ranks celebrities by popularity after a state media report critical of celebrity culture. “The brutal growth, disorder and greed of Chinese tech companies have caused a series of problems,” said Xie Pu, founder of Chinese tech website Techie Crab.
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