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00:00Time now for Talking Tech. Let's get over to China. Fan, co-founder of China Renaissance and one of the tech industry star bankers has vanished. His firm issued a statement that he is cooperating in an unspecified investigation. The bank his disappearance is sending shudders through China's corporate class. In spite of some pushback and some encouraging words from state media. Meanwhile, President Xi Jinping is officially backing the tech sector in his opening remarks at the National People's Congress. He said the country will take forceful measures to support the development of high end manufacturing and emphasized the country's need to ensure its self-reliance in technology. And as part of that grand project, China also plans to create a central agency to manage the flow of data within the country and abroad. That according to the Wall Street Journal. Citing sources, Beijing intends to set up a new national data bureau that will become the top overseer of data related issues to strengthen its control over the valuable data generated by swaths of the economy, including the Internet industry.

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Talking Tech: China Tightens Grip on Tech

Bloomberg's Ed Ludlow takes a look at the latest news from China: a top banker goes missing, meanwhile Chinese President Xi Jinping says the country will support its high-end manufacturing development, and a new central agency will manage the flow of data within the country and abroad. (Source: Bloomberg)

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