Reuters with the report, citing two people with knowledge of the matter.
- The Chinese government has been expanding its practice of taking minority stakes in private companies beyond those specialising in online news and content to firms possessing large amounts of key data
- It has made a de facto special management stake or "golden share" arrangement with Full Truck Alliance Co Ltd , a Chinese platform arranging trucking services, according to one of the people. Troubled Didi Global Inc has also been in talks about a golden share for its core ride-hailing business, a third source with direct knowledge of the matter said. Seeking influence,
- Beijing began taking golden shares in private online media companies - usually about 1% of a firm - some five years ago. The stakes are bought by government-backed funds or companies which gain a board seat and/or veto rights for key business decisions. Authorities are now also keen to have some control over vast troves of data owned by certain companies, the sources said, adding that the data is seen as a national asset at risk of attack and misuse, including by foreign states.
Gimme a sec to dig up a link, there is much more.
This'll be another point of contention with the US and allies.
