What We Know About China's Big Tech Crackdown

Hi all, it’s Zheping in Hong Kong. Last week, China’s biggest tech companies shed almost $290 billion in market value in two days. For context, that’s roughly equivalent to five Snap Inc.s or the gross domestic product of Egypt.

The reason for the selloff was a raft of new regulations from Beijing aimed at curbing monopolies in big tech. Although Chinese regulators have said little about how harsh they expect the new rules to be, penalties could range from fines, to unwinding mergers and acquisitions, to even breaking up industry leaders.