Apr.23 — China and the U.S. may not see eye to eye on a number of issues, but both seem to agree that their large internet platform companies may have grown too big and powerful. Fueled by new anti-monopoly regulations and a four months-long investigation, authorities slapped a record $2.8 billion penalty on one of its national champions, Alibaba Group Holding Ltd., and vowed to revamp its fintech powerhouse Ant Group. 34 other tech giants including Tencent Holdings Ltd., Baidu Inc., Meituan and ByteDance Ltd. have been put on regulatory notice as well. Bloomberg Television’s “Red Lines: China & Big Tech” takes a close look at the evolving regulatory environment for Big Tech in China, and the impact it will have on the country’s innovative national champions.
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