China’s Regulators Warn 13 Chinese Internet Firms Amidst Internal Power Struggle

A man cycles past a Tencent sign, the parent company of Chinese social media giant WeChat, outside the Tencent headquarters in Beijing on Aug. 7, 2020. Greg Baker/AFP via Getty Images

Regulators recently interviewed 13 Chinese internet firms following a third interview of Ant Group. A China observer said power struggles inside the Chinese Communist Party (CCP) are behind these interviews.

Among other issues, supervision of the shareholding structure and capital was reportedly emphasized in the interviews.