Fri January, 2022, Age: 2 years
Over the past year, Beijing clipped the wings of its once high-flying technology giants in a dramatic clash between public and private power. Casualties included some of China’s top tech companies, including internet conglomerates Tencent and Alibaba, food delivery app Meituan, ride-hailing app Didi, as well as companies in online gaming, private tutoring and cryptocurrency. Despite the chilling effects on innovation and economic growth, regulators appear poised to continue enforcement actions in 2022, furthering Xi Jinping’s bid for “common prosperity.”
