China Presses on With Crackdown on Tech Data and Overseas IPOs

July 30, 2021, 3:20 PM

Beijing pressed ahead with moves to assert greater control over technology companies, continuing a campaign that’s roiled financial markets and prompted Washington to suspend public offerings by Chinese companies on U.S. exchanges until risks are better disclosed.

In a flurry of action Friday, authorities summoned the country’s largest technology companies for a warning on data security, vowed tighter oversight of overseas share listings and accused ride-hailing companies of anti-competitive behavior.

A meeting of the Chinese Communist Party’s elite Politburo chaired by President Xi Jinping offered investors little reassurance that overhauls tightening the state’s grip on industries from private education to ...

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