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China is tightening its grip on technology giants

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China is tightening its grip on technology giants

The Chinese government is developing new control measures for its giant technology companies.

Axar.az reports this information was spread by the Wall Street Journal.

According to the report, these companies will be forced to turn off payment systems in their applications.

It was noted that the restrictions will apply to a total of 13 companies, including Vichat and Tencent. The main reason for this decision was that these companies provide loans through their payment systems without a banking license. Chinese officials have described it as a threat to the country's national security.
Date
2021.05.01 / 10:58
Author
Tural Azimzadeh
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