Financial TimesFinancial Times

China moves to take ‘golden shares’ in Alibaba and Tencent units

By Ryan McMorrow, Cheng Leng, Qianer Liu

13 Jan 2023 · 4 min read

Editor's Note

Even China's biggest and most successful companies can't escape the reach of the Communist party, the FT shows. Does the government want the shares to keep foreign investors out or their influence in?

China is moving to take “golden shares” in local units of Alibaba and Tencent as Beijng formalises a greater role in overseeing the country’s powerful tech groups.

The Chinese government has responded to a stuttering economy by backing away from the tough fines and sanctions that were a hallmark of its campaign to rein in the country’s largest tech groups, but which also scared off foreign investors.

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