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July 05, 2021 @ 20:43 +03:00
China’s government has opened a new battlefront with the country’s technology giants, looking to target their collection and use of data. On Monday, the Cyberspace Administration of China (CAC) also opened a cybersecurity probe into U.S.-listed Boss Zhipin and subsidiaries of Full Truck Alliance.
It came a day after the CAC ordered app stores in the country to remove ride-hailing service Didi, alleging the company had engaged in the illegal collection and use of personal data. On Friday, the same regulator announced a cybersecurity review into Didi, which just last week carried out a massive initial public offering in the U.S.
Beijing has been cracking down on domestic technology giants over the last few months, from the cancellation of Ant Group’s $34.5 billon listing to Alibaba’s $2.8 billion antitrust fine. The focus has very much been on anti-monopoly as well as financial technology regulation. Now regulators are turning their heads toward data because of its importance to the tech industry, a key driver of economic growth. A separate piece of legislation called the Personal Information Protection Law is also being worked on. If passed, it will give users more control over their data.
China’s tech crackdown has a new battleground — data, CNBC, Jul 6