China's relaxing its tech crackdown, but it's still keeping a close eye on Tencent

16 days ago PC Gamer

Audio player loading…China might finally be relaxing its tech crackdown (opens in new tab), but the government isn't stepping away from the sector entirely. These golden shares are relatively tiny—around 1% ordinarily—but confer rights over particular business decisions and appointments made at the companies in which they're taken. For example, when a state entity took a golden share in TikTok owner ByteDance, it gained the power to nominate one of the company's three directors. So it looks like China's government is relaxing its grip, but keeping its hand firmly on the tiller when it comes to the nation's tech and games sector. If the state really is relaxing its grip, those companies might choose to start eating at home rather than going out for it.
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