From competition enforcement to data privacy, China’s crackdown on its tech giants is driving sweeping reforms on how tech companies govern, manage and engage with customers and employees.
For a while, Chinese tech founders enjoyed cult celebrity status, not unlike Tesla’s Elon Musk. One by one, they have since laid low following Ant Group’s failed US$37 billion ($50.15) IPO in Shanghai and Hong Kong last November. ByteDance founder Zhang Yiming stepped down as chairman of the company on Nov 3, six months after resigning as CEO of ByteDance, which owns TikTok.
