China’s communist authorities are tightening their grip on the private sector
Its growth model is at risk
IT MIGHT just be confused for one of the world’s savviest tech investors. China Internet Investment Fund’s (CIIF) portfolio is the envy of venture capitalists everywhere. It owns part of a subsidiary of ByteDance, the Beijing-based parent of social-media group TikTok, and Weibo, a Twitter-like platform. It has a stake in SenseTime, one of China’s most advanced artificial-intelligence (AI) groups, and Kuaishou, a popular short-video service. The firm’s investment list reads like a who’s who of the industry.
This article appeared in the Business section of the print edition under the headline “The Party capitalists”
Business November 20th 2021
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- The business phrasebook
- An auction at Sotheby’s raises $676m
- The video-game industry has metaverse ambitions, too
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- Walmart gets its bite back
- Wanted: a new senior business writer
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