News for hackers. Stuff that matters.

A comment on Why is China smashing its tech industry?. Parent comment

Re:Why is China smashing its tech industry? by xchaotic on Monday August 02, 2021 @02:35PM (#28040809)
but they're 'smashing' the likes of Ant Financial who were doing predatory, unsecured lending on an unprecedented scale. So IMO the thesis of smashing 'Internet' companies is incorrect - they're just making sure economy doesn't go into bubble territory (lending fuels spending) and the likes of Jack Ma, who are detached from the party don't get too much power/money.
[ Parent | on HN ]
Re:Why is China smashing its tech industry? by viscanti on Monday August 02, 2021 @03:31PM (#28041523)
Or Didi who had the nerve to IPO outside of China on the NYSE on a date the CCP thought was too close to a party anniversary.
[ Parent | on HN ]
Re:Why is China smashing its tech industry? by sudosysgen on Monday August 02, 2021 @05:42PM (#28043072)
The Chinese central government was always really ambivalent about foreign IPOs. DiDi has too much control over domestic markets for the Chinese to be comfortable with foreign influence. I don't think it has anything to do with the anniversary.

Actually, the CCP never formally accepted the foreign stock ownership structure, for example. It was always a grey area.

[ Parent | on HN ]