The Cyberspace Administration of China has been tightening its rules and upping its enforcement across the board. That comes with all kinds of data-sharing questions, accounting issues and a total lack of visibility into how things really work, as Protocol's Tomio Geron and Shen Lu recently reported.Īnd China's not just making one-off decisions, either. But there's also the question of Chinese companies going public on international markets.(Around the time of the IPO decision, Zhang also stepped down as ByteDance's CEO and named Liang Rubo as his successor.) China continues to take a sharper look at its biggest tech companies, and those tech companies continue to shy away from the spotlight.As we've discussed here before, there's both an international story here and an intra-national one.(Or so it seems!) But in China, where there are so many huge private companies that investors are scrambling to get a piece of, a chill has come over the market. IPO market is absurdly hot, and companies are rushing to go public in practically any way they can because money's free and stocks only go up. And don't forget about Ant Group, which had its own IPO put on ice indefinitely.īut there's an odd dichotomy here. Ximalaya, Keep, LinkDoc and others have all reportedly delayed or canceled planned IPOs. Others are following ByteDance's lead, too. "It does create difficulty, and it creates higher expectations for what you can achieve."
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