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China acquires controlling golden shares' in two Alibaba units
来源：shippingazette 编辑：编辑部 发布：2023/01/24 11:03:30
CHINA has acquired minority stakes with special rights in two domestic units of tech giant Alibaba Group, business registration records showed, Reuters reports.
As Beijing extends its control over online content, it has been taking "golden shares" in private online media and content companies for more than five years. This gives the state access to vast troves of data.
The stakes taken over the last four months in the Alibaba units are the first ones to come to light for the ecommerce firm. Alibaba has been one of the most prominent targets of China's two-year-long regulatory crackdown.
These golden shares, typically equal to about one per cent of a firm, are bought by government-backed funds or companies which gain board representation and/or veto rights over key business decisions.
As Beijing extends its control over online content, it has been taking "golden shares" in private online media and content companies for more than five years. This gives the state access to vast troves of data.
The stakes taken over the last four months in the Alibaba units are the first ones to come to light for the ecommerce firm. Alibaba has been one of the most prominent targets of China's two-year-long regulatory crackdown.
These golden shares, typically equal to about one per cent of a firm, are bought by government-backed funds or companies which gain board representation and/or veto rights over key business decisions.