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Top related persons:
David Kirton - 1 Ma - 1 Josh Ye - 1 Brenda Goh - 1
Top related locs:
Nanshan district Shenzhen Guangdong province China HONG KONG Shenzhen Yayue TikTok Beijing
Top related orgs:
REUTERS - 1 Tencent Holdings - 1 HK - 1 Shenzhen Yayue Technology - 1 Oc - 1 China Internet Investment Fund - 1 Alibaba - 1 Financial Times - 1

Search resuls for: "China Internet Investment Fund"


2 mentions found


☆ Beijing takes 'golden share' in a Tencent subsidiary, records show
  + stars: | 2023-10-19 | by ( Josh Ye | ) www.reuters.com   time to read: +3 min
A man rides an electric bike past the Tencent headquarters in Nanshan district of Shenzhen, Guangdong province, China September 2, 2022. Tencent, the world's largest video game company and the operator of the WeChat messaging platform, declined to comment. Shenzhen Yayue Technology, whose business involves information technology and internet services, was previously 100% owned by a Tencent subsidiary before the stake change took place on Wednesday, according to Qichacha. The Financial Times first reported Beijing's plan to acquire a golden share in a Tencent subsidiary earlier this year. In the case of ByteDance, the Chinese government took a board seat in Beijing ByteDance Technology with its 1% stake.
Persons: David Kirton, Ma, Josh Ye, Brenda Goh Organizations: REUTERS, Tencent Holdings, HK, Shenzhen Yayue Technology, Oc, China Internet Investment Fund, Alibaba, Reuters, Financial Times, Beijing ByteDance Technology, Thomson Locations: Nanshan district, Shenzhen, Guangdong province, China, HONG KONG, Shenzhen Yayue, TikTok, Beijing
☆ China acquires 'golden shares' in two Alibaba units
  + stars: | 2023-01-13 | by ( ) www.reuters.com   time to read: +3 min
[1/3] The logo of Alibaba Group is seen at its office in Beijing, China Jan. 5, 2021. REUTERS/Thomas PeterBEIJING, China, Jan 13 (Reuters) - China has acquired minority stakes with special rights in two domestic units of tech giant Alibaba Group Holding Ltd (9988.HK), business registration records showed, as Beijing extends a campaign to strengthen control over online content. Beijing has been taking 'golden shares' in private online media and content companies for more than five years, and in recent years expanding such arrangements to companies with vast troves of data. These golden shares, typically equal to about 1% of a firm, are bought by government-backed funds or companies which gain board representation and/or veto rights for key business decisions. Having such golden shares can be helpful to firms when they try to secure licences to disseminate online news and to show online visual and audio programmes, sources have told Reuters.
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