Why China's cracking down on tech — and what's next

Name: Why China's cracking down on tech — and what's next
Uploaded: 2021-08-30T05:46:57.000Z
Duration: 34 min 29 s
Description: Beijing's regulatory blitz has shocked outsiders and befuddled investors. Here's why it's happening, and what it could mean for China and beyond.

Beijing's regulatory blitz has shocked outsiders and befuddled investors. Here's why it's happening, and what it could mean for China and beyond.

34:29

Mon, Aug 30 20211:46 AM EDT

Arjun Kharpal

China has been cracking down hard on its technology sector in recent months.

The trend started in November 2020, when Ant Group, the financial technology company founded by billionaire Jack Ma, was about to go public in Hong Kong and Shanghai in what would have been the world's largest IPO. A few days before it was scheduled to be listed, the IPO was pulled.

Since then, the trend has accelerated.

CNBC's Arjun Kharpal spoke to Charles Mok, an internet entrepreneur and former Hong Kong legislator, to find out why now and what these new rules could mean for China and the rest of the world. Watch the latest episode of Beyond the Valley above.