The Chinese government is understood to have taken a small but significant equity stake in Kuaishou, China’s second largest short video platform and a direct rival to Douyin, the Chinese half of Ti…
The stake was acquired through Beijing Radio and Television Station, which is controlled by the Beijing municipal government. It invested RMB1.01 million for a 1% per cent stake in Beijing Kuaishou Technology, the mainland Chinese unit of Kuaishou, according to records on Chinese corporate data provider Qichacha, cited by media including the South China Morning Post.The transaction was not reported to the Hong Kong Stock Exchange, where Kuaishou shares are listed.
Both the investment by a SOE and the board appointment are in keeping with a policy of the Chinese government to exercise increasing control of private sector media companies, including the right to review content.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
San Diego defense contractor sentenced for selling information to Chinese governmentShapour Moinian, who served 23 years in the Army as a helicopter pilot, admitted to selling information from his defense contractor employers
Les mer »
In Arizona, small tribe watches warily as Supreme Court takes up Native adoption lawThis week, the Supreme Court will consider whether to gut the Indian Child Welfare Act, which prioritizes placing Native foster children with Native relatives.
Les mer »
(Almost) Gone with the wind: Ohio State avoids catastrophe but takes step back | OpinionOhio State is running out of excuses for lackluster run game, which could be the Buckeyes' demise when Michigan comes to Columbus in three weeks.
Les mer »
Biden takes aim at GOP election deniers in the final stretch of campaign | CNN PoliticsOn Election Day Eve, President Joe Biden will headline a political rally in Maryland where Democratic gubernatorial nominee Wes Moore looks poised to become the state’s first Black governor.
Les mer »
Rob Gronkowski takes ‘parent-teacher conferences’ shot at Zach Wilson after dating dramaRob Gronkowski takes 'parent-teacher conferences' shot at Zach Wilson after dating drama
Les mer »