Tech giants in China are required to obtain approval before investing or receiving financing.
China added new rules to the list of companies that are subject to borrowing or investing permission, which it published last year.
In the document released by the China Cyberspace Administration, it was announced that all companies with more than 100 million users or more than $ 1.6 billion in returns must obtain approval before signing agreements such as investing or raising funds.
Apart from these companies, all internet companies that are included in the “negative list” updated last year will also be subject to the same approval.
Regulatory institutions have caused investments in the internet sector to stop with the penalties.