Private Sector Woes Mount as Tech Giant CEOs Resign and Authorities Send Officials to Private Companies

A visitor looks at new laptop computers on display at the Lenovo stand at the 2019 IFA home electronics and appliances trade fair in Berlin, Germany on September 06, 2019. Sean Gallup/Getty Images

In recent weeks, the founders of China’s biggest tech companies announced their resignations one after the other.

Then, the government of Hangzhou City—one of China’s key manufacturing bases and an emerging tech hub—announced on Sept. 20 that it would send 100 officials to work with 100 of the “most important” private companies in town.