Posted on 01/13/2023 11:49:56 PM PST by blueplum
The Chinese government is buying shares in Alibaba, Tencent and other tech companies to be more deeply involved in their businesses, sources told the Financial Times.
The stakes usually involve a 1% holding in a key segment and are known as "special management shares," which give Beijing rights over certain decisions at the companies.
That allows the Communist Party to gain greater influence...
(Excerpt) Read more at markets.businessinsider.com ...
Considering this is Alibaba, it maybe an improvement,
Communists always want to run the economy.
Private business is prohibited by Marx.
Just formalizing what was already going on. Inside Red China, what the CCP wants, it gets.
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