0
0
The Chinese fine worth $ 1.2 billion in Global Didi withdraws the line under the misery of company regulations that are maintained, but the application of receding law and lack of clarity about the company’s business rise shows the worst for the technology sector may not end. …
Authorities, in recent months, soften their tone on the crush because they are trying to improve the injured economy by the Covid-19 detention steps, and the investigation to Didi is among the cases that are supervised carefully for the instructions on how this is could occur.
But Didi’s fine was announced on Thursday, and the punishment made of his top two executives, close to the maximum permitted based on the country’s personal information protection (PIPL). And even though the law was passed only nine months ago, …
The regulator also does not mention anything about whether it will allow the Didi application to return to the application store, or continue the registration of new users.
If the fine is much lower, such as 1 billion yuan ($ 147.80 million), “it can increase our trust,” said an executive of the Chinese technology giant, refusing to be named quoting the sensitivity of the problem.
Alfredo Montufar-Helu, Director of Insights for Asia in the Conference Council Research Group, said that many Chinese technology companies are likely to be worried about the PIPL retroactive application.
This, combined with the reality of how the Chinese regulation framework changes quickly – regardless of the country’s PIPL has introduced new and amended laws about cyberspace security and data – means that many are at risk of being found not compliant, he said.
This will increasingly limit to internet companies. Except to comply with CAC orders, there is no other way for internet companies, “said Yamu Yunting, a senior partner in the Shanghai Debund law firm.
There is no relaxation
Beijing launched a hard action in the large homemade technology sector at the end of 2020 as part of the campaign to strengthen the control over his large economic plots when preparing Chinese President Xi Jinping to secure the third term that had never happened before as a party …
The end of Didi’s investigation participated in a series of meetings this year where the authorities said they wanted to increase policy support for the economic department, including the internet platform, and the end of the nine -month freezing in Gami …
However, the Chinese technology executive, said that the policy to increase confidence in this sector has not yet been launched, and that they have accepted that changes in the industrial playground will become permanent.
One game executive shows that while the game license approval has been continued, the indication is that the number of licenses every year will be around 700, which drops 30% from around 1,000 before a strong action. During the glory of industry, 9,369 lice …
