The Political Bureau of the COMMUNIST Party of China (CPC) Central Committee has designated “antitrust” and preventing disorderly capital expansion as priorities for next year at a meeting to study economic work for 2021. Experts believe that this signal beating Internet giants means that the market is paying attention to whether the Internet giants’ shares have run out of imagination. The conference may represent the future of the Internet giants will be subject to more restrictions and regulations.
Wang Jun, chief economist at Zhongyuan Bank, said the official signal to prevent any group from taking advantage of the situation was “very severe” and meant “beating” very strongly, and it was getting higher and higher. Some of the capital has been trying to evade regulation and harvest the leeks. Now the authorities are trying to reshape the rules of the game and regulatory authority.
According to Chinese scholars, the official “anti-monopoly” pronouncements and subsequent measures appear to have targeted specific sectors of the technology industry, including those spanning the financial sector. The industry, which officials believe is adept at using “big data” to target ordinary consumers, has recently been publicly warned, analysts said. So what the authorities do to these companies in the future is likely to concern The Chinese business community.
Guo Shuqing, chairman of the China Insurance Regulatory Commission (CIRC), recently pointed out that the new “too big to fail” risks should be paid attention to, as some large technology companies get involved in various financial and technology fields and operate in a mixed business.
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