Amid the authorities’ sweeping crackdown on the internet industry, Chinese tech giants are axing thousands of employees following last year’s resignation of founders or CEOs from their companies.
Speaking to The Epoch Times on April 23, Shen Rongqin, a Ph.D. at the European Institute of Business Administration (INSEAD) and associate professor at York University in Toronto, Canada, said that major internet companies faced a headwind in their development as Chinese authorities have been imposing strict controls on the internet since 2021.
