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'Common prosperity' push will further entrench Alibaba and Tencent

That will likely lead to a strengthening of state control over the two tech giants

| China
Advertisement to promote Alibaba's Singles' Day shopping festival in Shanghai on Monday.   © Reuters

Nina Xiang is the founder of FutureLogic, a media platform bridging the Asian and global innovation economy. She is the author of "US-China Tech War: What Chinese Tech History Reveals About Future Tech Rivalry."

The stated aim of President Xi Jinping's "common prosperity" drive is to ease China's worsening inequality.

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