The Chinese government has been getting tough with Tech lately, especially Chinese tech firms. Starting with the effective neutering of Alibaba founder Jack Ma a few years back, the Chinese government has been putting increased regulations in place and issuing vague guidelines in an effort to assert more control over the population.
Kids are limited in how much time they are allowed to play on-line games like Fortnite, social media companies need to ensure nothing is said against the Communist Party and online tutoring companies have even bid forbidden to make money! The Chinese Uber, Didi is even being forced to de-list from the NASDAQ just a few months after their much anticipated Public listing just to get their App back in the App Store.
Government intervention in China has lost Chinese tech companies and their investors over $1 Trillion.
In one of the most dangerous moves yet, recently, the government announced that they were stepping in to take control of the mobile app approval and listing process for Tencent.