China has launched a multi-pronged attack on its tech companies, threatening to curb their ability to list in the United States, seeking to tighten up regulation of their use of algorithms and sidelining their cloud computing businesses in a major city.
In another move amid a wave of regulations on the tech sector announced in recent months, Beijing has also cracked down on what it described as a “chaotic” celebrity fan culture, imposing new restrictions on already tightly controlled content in China.
The moves further clip the wings of Chinese tech behemoths such as Alibaba Group and Tencent Holdings and have unnerved investors, hammering Chinese shares traded at home and abroad.
Chinese tech firms have raised billions of dollars in overseas listings, particularly in the United States, as Beijing for years pursued…
