Xi Jinping vows tighter oversight of tech firms, digital economy

President Xi Jinping ordered better regulation of the country’s technology sector, underscoring the intense scrutiny and upheaval faced by Chinese internet giants following their rapid growth. 
 

Improved oversight would help China take advantage of the transformation happening in the tech industry, Xinhua reported Tuesday, citing Xi at a meeting of Communist Party officials the previous day. He called for greater integration of traditional industries and the digital economy, which covers everything from big data and artificial intelligence to cloud computing and blockchain.

Xi vowed to “correct” practices that harm the interests of the masses and hinder fair competition. Many