Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Politics
Anusuya Lahiri

China Raises More Regulatory Hurdles For Alibaba, Other Chinese Tech Giants

BABA (Organization) China Alibaba
  • China's cyberspace regulator has drafted new guidelines mandating the country's internet behemoths obtain its approval before undertaking any investments or fundraisings, Reuters reports.
  • China's internet giants include Alibaba Group Holding Ltd (NYSE:BABA), Baidu Inc (NASDAQ:BIDU), Tencent Holdings Ltd (OTC:TCEHY) and JD.com Inc (NASDAQ:JD).
  • Related Content: Why Are Alibaba Shares Trading Lower Premarket?
  • Cyberspace Administration of China's (CAC) guidelines will apply to any platform company with over 100 million users or plus 10 billion yuan ($1.58 billion) in revenue.
  • Any internet firm involved in sectors named on the negative list issued by China's National Development and Reform Commission last year will also need to apply for approval.
  • The CAC previously issued a new set of rules, to take effect from Feb. 14, that require platform companies with data on more than 1 million users to undergo security reviews before they list overseas. 
  • BABA Price Action: BABA shares were trading 0.21% higher at $128.87 midday Wednesday. 

 

 

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Raven-Symoné Tells Demi Lovato She Wasn't "The Nicest Person" on 'Sonny With a Chance'
They had a candid conversation on Lovato's documentary.
Marie Claire
Marie Claire
The evocative typefaces that defined each decade
From the 1920s to now, this is the type that stood out.
Creative Bloq
Creative Bloq
Lady Gaga Reveals Anatomy Controversy Shouldn’t Be Addressed To Protect People’s “Wellbeing”
"I tried to use the misinformation to create another disruptive point.” The post Lady Gaga Reveals Anatomy Controversy Shouldn’t Be Addressed To Protect People’s “Wellbeing” first appeared on Bored Panda.
Bored Panda
Bored Panda
Kaos’s Caeneus is part of a long tradition of queer and trans characters in retellings of ancient myths
This article contains spoilers for series one of Kaos.
The Conversation
The Conversation
Lady Gaga reveals why she never responded to rumours she was a man
Singer spent early years of career dogged by rumours and says she was asked about it in almost every media interview
The Independent UK
The Independent UK
Who Wanted To Kill Henry Kissinger?
Newly released FBI files show a lot of strange threats against the former secretary of state’s safety—and say a lot about 1970s America.
Reason
Reason
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play