China Tech Firms Look To Bolster Legal Defence Amid Regulatory Crackdown – Sources
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businessworld said that China’s big technology firms are stepping up hiring of legal and compliance experts and setting aside funds for potential fines, according to sources and job postings, amid an unprecedented anti-trust and data privacy crackdown by regulators.
Beijing is tightening scrutiny of its tech firms, and in December eyebrows were raised when regulators launched an anti-trust probe into e-commerce giant Alibaba after the halting of the $37 billion IPO of payment affiliate Ant Group.
The regulatory scrutiny, which ended the once laissez-faire approach, comes after a string of high-profile deals in the sector triggered concerns about competition and consumer data.
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