People walk along a pedestrian walkway on March 20, near the Tencent Holdings headquarters in Shenzhen, China’s southern tech hub often compared to Silicon Valley. Beijing’s wide-ranging crackdown on the tech sector has made some of the country’s biggest companies less appealing to talented young workers chasing new wealth. Photo: Bloomberg
People walk along a pedestrian walkway on March 20, near the Tencent Holdings headquarters in Shenzhen, China’s southern tech hub often compared to Silicon Valley. Beijing’s wide-ranging crackdown on the tech sector has made some of the country’s biggest companies less appealing to talented young workers chasing new wealth. Photo: Bloomberg
Regulation

Explainer |
Beijing’s Big Tech crackdown kills dreams of quick wealth among China’s ambitious young workers

  • Workers at private tutoring and internet platform companies have seen the value of their stock holdings plummet this year, wiping out savings overnight
  • Alibaba, Tencent and others minted thousands of millionaires with their IPOs, but the tech sector is less appealing to young talent amid Beijing’s crackdown

Topic |   Regulation
People walk along a pedestrian walkway on March 20, near the Tencent Holdings headquarters in Shenzhen, China’s southern tech hub often compared to Silicon Valley. Beijing’s wide-ranging crackdown on the tech sector has made some of the country’s biggest companies less appealing to talented young workers chasing new wealth. Photo: Bloomberg
People walk along a pedestrian walkway on March 20, near the Tencent Holdings headquarters in Shenzhen, China’s southern tech hub often compared to Silicon Valley. Beijing’s wide-ranging crackdown on the tech sector has made some of the country’s biggest companies less appealing to talented young workers chasing new wealth. Photo: Bloomberg
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