China’s Big Tech: From Free Development to Strict Regulation
... China’s tech sector lost hundreds of billions of dollars in less than two and a half years of the state’s large-scale regulatory campaign. China’s five largest Big Tech companies lost nearly 50% of their combined market capitalization. While in 2020, Tencent had larger capitalization than Facebook and most other American companies, today America’s Apple with its market value of $2.7 trillion exceeds the capitalizations of Tencent, Alibaba, Baidu, Meituan, JD.COM, and Pinduoduo combined. Following ...