China Considers Creating State-Backed Company to Oversee Tech Data

31
8
Favorite

China Considers Creating State-Backed Company to Oversee Tech Data

Bloomberg2021-03-24

E-commerce, payment firms could be first batch to join venturePlan may require changes to laws governing data ownershipChina’s government has proposed establishing a joint venture with local ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment（8）

SniperTrade
·2021-03-24
Lol
Reply
1
Report
ADL
·2021-03-24
letting companies do their thing before reining them in. not that bad of an idea.
Reply
1
Report
jeff123
·2021-03-24
Will there be a monopoly on tech stocks?
Reply
6
Report
Fold Replies
- Jeremyyeojc:
  yes china being china
  2021-03-25
  Reply
  Report
- Jweikit:
  Nice
  2021-03-24
  Reply
  Report
eeez
·2021-03-24
yes
Reply
5
Report
Fold Replies
- JonathanT:
  Ok
  2021-03-24
  Reply
  Report
TheZaiKia
·2021-03-24
Privacy is truly an issue
Reply
4
Report
Fold Replies
- AppleMango:
  Agree. pls like n comments back
  2021-03-24
  Reply
  Report
Hopipoh
·2021-03-24
Privacy is an issue
Reply
4
Report
tralala
·2021-03-24
[呆住]
Reply
1
Report
Vendetta88
·2021-03-24
yes
Reply
3
Report
Fold Replies
- beesleuth:
  Please like an comment
  2021-03-24
  Reply
  Report

Most Discussed

7x24

All

Terms and Conditions·Privacy Policy

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email：uservice@ttm.financial

{"i18n":{"language":"en_US"},"data":{"share":"https://ttm.financial/m/news/1142089899?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2021-03-24 18:07","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1142089899","market":"hk","top_or_hot":-1,"title":"China Considers Creating State-Backed Company to Oversee Tech Data","media":"Bloomberg","content":"<div>\n<p>E-commerce, payment firms could be first batch to join venturePlan may require changes to laws governing data ownershipChina’s government has proposed establishing a joint venture with local ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-03-24/china-is-said-to-mull-state-backed-company-to-oversee-tech-data\">Source Link</a>\n\n</div>\n","source":"lsy1584095487587","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>China Considers Creating State-Backed Company to Oversee Tech Data</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChina Considers Creating State-Backed Company to Oversee Tech Data\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-24 18:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-03-24/china-is-said-to-mull-state-backed-company-to-oversee-tech-data><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>E-commerce, payment firms could be first batch to join venturePlan may require changes to laws governing data ownershipChina’s government has proposed establishing a joint venture with local ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-03-24/china-is-said-to-mull-state-backed-company-to-oversee-tech-data\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BABA","symbol_name":"阿里巴巴","start_time":0,"source_url":"https://www.bloomberg.com/news/articles/2021-03-24/china-is-said-to-mull-state-backed-company-to-oversee-tech-data","article_id":"1142089899","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1142089899","pubTimestamp":1616580432,"sourceInfo":{"source_id":"lsy1584095487587","name":"Bloomberg"},"weMediaInfo":null,"summary":"E-commerce, payment firms could be first batch to join venturePlan may require changes to laws gover","collect":0,"end_time":0,"defaultTopTitle":"bloomberg.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BABA":"阿里巴巴","03690":"美团-W","09988":"阿里巴巴-W","00700":"腾讯控股"},"translate_title":"中国考虑成立国有企业监管科技数据","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"00700":0.9,"03690":0.9,"09988":0.9,"BABA":0.9},"content_text":"E-commerce, payment firms could be first batch to join venturePlan may require changes to laws governing data ownershipChina’s government has proposed establishing a joint venture with local technology giants that would oversee the lucrative data they collect from hundreds of millions of consumers, according to people familiar with the matter.The preliminary plan, which is being led by the People’s Bank of China, would mark a significant escalation in regulators’ attempts to tighten their grip over the country’s internet sector. It envisions the creation of a government-backed entity along with some of China’s biggest e-commerce and payments platforms, the people said, asking not to be identified as the discussions are private.The online firms would be initial shareholders in the joint venture, though top executives would need to be approved by the regulator, the people said. The central bank didn’t immediately respond to a request for comment.The proposal is among a slate of options being considered to crystallize Beijing’s goal of gaining greater control over the data amassed by online behemoths from Alibaba Group Holding Ltd. and Tencent Holdings Ltd. to up-and-comers like ByteDance Ltd. and Meituan. Companies were encouraged this month to open up data in areas from e-commerce to social media to promote healthy development of the sharing and online economies in a report that outlined the Communist Party’s priorities.Rule ChangesOne of the key hurdles for such a joint venture would be existing rules around data privacy, which give individuals the right to decide how their information is used, said one of the people. Putting consumer data under the oversight of a company or the government would require changes to the law, the person said.It’s still unclear what the overall scope of the new entity would be, what types of data it would manage and from what sources. A part of the proposal envisions it eventually forming strategic alliances with government-backed institutions to facilitate data sharing, one of the people said, without providing further details.Much like Facebook Inc. or Google, the enormous amounts of information that China’s internet giants hoover up in real time are key to their bottom lines as well as their ability to innovate and expand. But Beijing has grown increasingly wary of the might of companies such as Alibaba and Tencent and their potential to influence public opinion.President Xi Jinping warned this month that his government would go after so-called “platform” companies that have amassed increasing power through the data and patronage of hundreds of millions of consumers. The strongly-worded comments signaled China plans to amplify a campaign to curb the influence of its most powerful private corporations, which has so far centered mainly on Jack Ma’s Alibaba and its affiliate Ant Group Co.Xi’s comments were the first time he specifically addressed platform economies, though he has previously stressed the importance of preventing monopolies.China’s efforts to regulate its internet giants coincide with growing global scrutiny over the industry, as governments from the U.S. to the European Union and Australia have clashed with companies including Twitter Inc. and Facebook.That’s a testament to how important the industry has become to basic infrastructure and national security.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":351827706,"gmtCreate":1616587586605,"gmtModify":1704796017744,"author":{"id":"3557654715521703","authorId":"3557654715521703","name":"SniperTrade","avatar":"https://static.tigerbbs.com/5f5c0591e2984fb3ac95fcea83e0765a","vip":1,"crmLevel":6,"crmLevelSwitch":0,"authorIdStr":"3557654715521703","idStr":"3557654715521703"},"htmlText":"Lol","listText":"Lol","text":"Lol","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/351827706","repostId":1142089899,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":351829249,"gmtCreate":1616586618381,"gmtModify":1704796006411,"author":{"id":"3572161139823685","authorId":"3572161139823685","name":"ADL","avatar":"https://static.tigerbbs.com/46f309a3de1b3b77e46ca01bc05767be","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3572161139823685","idStr":"3572161139823685"},"htmlText":"letting companies do their thing before reining them in. not that bad of an idea.","listText":"letting companies do their thing before reining them in. not that bad of an idea.","text":"letting companies do their thing before reining them in. not that bad of an idea.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/351829249","repostId":1142089899,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":351817759,"gmtCreate":1616584093271,"gmtModify":1704795977306,"author":{"id":"3578111079453218","authorId":"3578111079453218","name":"jeff123","avatar":"https://static.tigerbbs.com/d2c71145c4a9a4565a59fc5476086738","vip":1,"crmLevel":4,"crmLevelSwitch":0,"authorIdStr":"3578111079453218","idStr":"3578111079453218"},"htmlText":"Will there be a monopoly on tech stocks?","listText":"Will there be a monopoly on tech stocks?","text":"Will there be a monopoly on tech stocks?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/351817759","repostId":1142089899,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3878540,"gmtCreate":1616650154974,"gmtModify":1680781659792,"authorId":3578061345924822,"author":{"id":3578061345924822,"idStr":"3578061345924822","authorId":3578061345924822,"name":"Jeremyyeojc","avatar":"https://static.tigerbbs.com/96261aa62716a70270967e52a5bcdd13","vip":1,"currentWearingBadge":{"badgeId":"972123088c9646f7b6091ae0662215be-3","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Legendary Trader","description":"Total number of securities or futures transactions reached 300","bigImgUrl":"https://static.tigerbbs.com/656db16598a0b8f21429e10d6c1cb033","smallImgUrl":"https://static.tigerbbs.com/03f10910d4dd9234f9b5702a3342193a","grayImgUrl":"https://static.tigerbbs.com/0c767e35268feb729d50d3fa9a386c5a","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2022.11.15","exceedPercentage":"93.99%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1100},"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":351817759,"type":1,"supId":0,"prevId":0,"content":"yes china being china","text":"yes china being china","html":"yes china being china"},{"id":3871207,"gmtCreate":1616587833189,"gmtModify":1680781549790,"authorId":3571822130411286,"author":{"id":3571822130411286,"idStr":"3571822130411286","authorId":3571822130411286,"name":"Jweikit","avatar":"https://static.tigerbbs.com/b483f2ee96e5c438b841f3c0a8e4ccdf","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":351817759,"type":1,"supId":0,"prevId":0,"content":"Nice","text":"Nice","html":"Nice"}],"langContent":"EN"},{"id":351836451,"gmtCreate":1616582679173,"gmtModify":1704795957735,"author":{"id":"3570813663502369","authorId":"3570813663502369","name":"eeez","avatar":"https://static.tigerbbs.com/3e4f974ced53f13a2b714d56018e7b43","vip":1,"crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3570813663502369","idStr":"3570813663502369"},"htmlText":"yes","listText":"yes","text":"yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/351836451","repostId":1142089899,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3870898,"gmtCreate":1616584701294,"gmtModify":1680781539364,"authorId":3575431836205857,"author":{"id":3575431836205857,"idStr":"3575431836205857","authorId":3575431836205857,"name":"JonathanT","avatar":"https://static.tigerbbs.com/2632c1769669f38825c0a45bf5c0be95","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":351836451,"type":1,"supId":0,"prevId":0,"content":"Ok","text":"Ok","html":"Ok"}],"langContent":"EN"},{"id":351896165,"gmtCreate":1616581361857,"gmtModify":1704795943742,"author":{"id":"3574756159963132","authorId":"3574756159963132","name":"TheZaiKia","avatar":"https://static.tigerbbs.com/d42f4341bc9f163ff10b836a7039e893","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3574756159963132","idStr":"3574756159963132"},"htmlText":"Privacy is truly an issue","listText":"Privacy is truly an issue","text":"Privacy is truly an issue","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/351896165","repostId":1142089899,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3870742,"gmtCreate":1616582888655,"gmtModify":1680781538631,"authorId":3567141277226150,"author":{"id":3567141277226150,"idStr":"3567141277226150","authorId":3567141277226150,"name":"AppleMango","avatar":"https://static.tigerbbs.com/68d3e430c230d4cfd4e97044c56f2b6d","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":351896165,"type":1,"supId":0,"prevId":0,"content":"Agree. pls like n comments back","text":"Agree. pls like n comments back","html":"Agree. pls like n comments back"}],"langContent":"EN"},{"id":351891319,"gmtCreate":1616581155931,"gmtModify":1704795941136,"author":{"id":"3574273971156480","authorId":"3574273971156480","name":"Hopipoh","avatar":"https://static.tigerbbs.com/280df4a7a0f4549829bf4d96ce18ce26","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3574273971156480","idStr":"3574273971156480"},"htmlText":"Privacy is an issue","listText":"Privacy is an issue","text":"Privacy is an issue","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/351891319","repostId":1142089899,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":351804138,"gmtCreate":1616580696124,"gmtModify":1704795933648,"author":{"id":"3573204828888286","authorId":"3573204828888286","name":"tralala","avatar":"https://static.tigerbbs.com/13cca168e92d8ddc7e3fb3e6f0291475","vip":1,"crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3573204828888286","idStr":"3573204828888286"},"htmlText":"[呆住]&nbsp;","listText":"[呆住]&nbsp;","text":"[呆住]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/351804138","repostId":1142089899,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":351805628,"gmtCreate":1616580610364,"gmtModify":1704795933974,"author":{"id":"3575640164891879","authorId":"3575640164891879","name":"Vendetta88","avatar":"https://static.tigerbbs.com/ad311e5cc5112bcfd9e2759609ed8142","vip":1,"crmLevel":4,"crmLevelSwitch":0,"authorIdStr":"3575640164891879","idStr":"3575640164891879"},"htmlText":"yes","listText":"yes","text":"yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/351805628","repostId":1142089899,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3871309,"gmtCreate":1616588893969,"gmtModify":1680781544348,"authorId":3575447120456427,"author":{"id":3575447120456427,"idStr":"3575447120456427","authorId":3575447120456427,"name":"beesleuth","avatar":"https://static.tigerbbs.com/37f49b9f3e0274fa3908788abff57542","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":351805628,"type":1,"supId":0,"prevId":0,"content":"Please like an <u>comment</u>","text":"Please like an <u>comment</u>","html":"Please like an <u>comment</u>"}],"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":31,"commentSize":8,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}