BEIJING/HONG KONG (Financial Times) -- China is moving to take "golden shares" in local units of Alibaba and Tencent as Beijing formalizes a greater role in overseeing the country's powerful tech groups.
The Chinese government has responded to a stuttering economy by backing away from the tough fines and sanctions that were a hallmark of its campaign to rein in the country's largest tech groups, but which also scared off foreign investors.
