Business
Giants Tencent, Bytedance among companies reined in by China – BBC News
Beijing for years took a hands off approach towards tech firms, but it is now stepping up scrutiny.
image copyrightGetty Images
image captionFour regulatory agencies, including Bytedance, met with the firms on Thursday
Chinese regulators have called on 13 online platforms to adhere to tighter regulations in their financial divisions, as part of a wider push to rein in China’s tech giants.
They include Tencent and ByteDance, the parent company of TikTok.
The authorities said the aim was to prevent monopolistic behaviour and the “disorderly expansion of capital”.
For many years, Beijing took a…
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