China vows 'no mercy' in battle against corruption, Big Tech

CCP anti-graft group says govt will break the link between money and power

China has vowed to curb the influence of technology companies and root out corruption tied to the ‘disorderly’ expansion of capital In a sweeping communique following the plenary session of the Chinese Communist Party’s (CCP) top anti-graft group, the government said it would break the ties between money and power, and tackle corruption in a range of industries.
 
It means the government isn’t finished with a regulatory onslaught that upended industries from e-commerce to education and ride-hailing last year. They also served as a warning for CCP officials.
 
Alibaba Group Holding. took a hit on Friday, falling 3.4 per cent in Hong Kong after China’s central TV network aired a five-part documentary series, ‘Zero Tolerance,’ to coincide with the anti-graft meeting.

 
An episode on Wednesday night featured Zhou Jiangyong, the former party chief of eastern Hangzhou city, who allegedly used his influence to help his younger brother’s businesses — one of which included Jack Ma’s Ant Group as an investor, according to a local media report in August.  Another CCTV episode revealed how Sun Lijun, former vice public security minister, received bribes worth $14 million in small seafood boxes. He also faces charges of stock manipulation and gun possession.