The Chinese regime has made investments in two of the nation’s most significant technology firms—ByteDance, the Chinese company that owns global video app TikTok, and Weibo, China’s version of Twitter—in a move apparently intended to bolster its sway over the nation’s technology sector.
In April, ByteDance sold a 1 percent stake in its Chinese subsidiary, Beijing ByteDance Technology Co., to WangTouZhongWen (Beijing) Technology, a state-backed firm, according to public records and the corporate information platform Qichacha.
