Thursday, July 15, 2021

g-f(2)376 The big picture of the digital age (7/15/2021), WSJ, Alibaba and Tencent Consider Opening Up Their ‘Walled Gardens’




ULTRA-condensed knowledge


Alert, Beijing seeks to tame China’s tech giants, WSJ
  • Mounting regulatory pressure could bring about a major shift in how China’s tech giants operate.
Lesson learned; The country’s State Administration for Market Regulation fined Alibaba
  • In April, the country’s State Administration for Market Regulation fined Alibaba a record 18.2 billion yuan, the equivalent of $2.8 billion, for forcing vendors to sell exclusively on its platform, in a practice known as “er xuan yi,” or “choose one out of two.”
  • Alibaba was also ordered to carry out a comprehensive revamp and submit “self-examination compliance reports” in the next three years.
              Lesson learned, The competitive landscape in China’s tech industry
              • On the one side stands Alibaba, its financial affiliate Ant Group Co., and Alibaba-owned firms like Ele.me, a food-delivery platform. The other camp includes Tencent and its many investee companies like e-commerce groups JD.com Inc., Meituan and Pinduoduo Inc.
              Lesson learned, The fundamental competitive problem
              • Angela Zhang, an associate professor of law at the University of Hong Kong and author of “Chinese Antitrust Exceptionalism,” said the split in China’s internet was a fundamental competitive problem.
              • “Startups have no choice but to join either the Alibaba or Tencent camp, because the two control the so-called superapps that serve as gateways to vast amounts of users,” she said.

              Genioux knowledge fact condensed as an image


              Condensed knowledge


              Alert, Beijing seeks to tame China’s tech giants, WSJ
              • Mounting regulatory pressure could bring about a major shift in how China’s tech giants operate.
              Lesson learned; The country’s State Administration for Market Regulation fined Alibaba
              • In April, the country’s State Administration for Market Regulation fined Alibaba a record 18.2 billion yuan, the equivalent of $2.8 billion, for forcing vendors to sell exclusively on its platform, in a practice known as “er xuan yi,” or “choose one out of two.”
              • Alibaba was also ordered to carry out a comprehensive revamp and submit “self-examination compliance reports” in the next three years.
                          Lesson learned, The competitive landscape in China’s tech industry
                          • On the one side stands Alibaba, its financial affiliate Ant Group Co., and Alibaba-owned firms like Ele.me, a food-delivery platform. The other camp includes Tencent and its many investee companies like e-commerce groups JD.com Inc., Meituan and Pinduoduo Inc.
                          Lesson learned, The fundamental competitive problem
                          • Angela Zhang, an associate professor of law at the University of Hong Kong and author of “Chinese Antitrust Exceptionalism,” said the split in China’s internet was a fundamental competitive problem.
                          • “Startups have no choice but to join either the Alibaba or Tencent camp, because the two control the so-called superapps that serve as gateways to vast amounts of users,” she said.


                          Category 2: The Big Picture of the Digital Age

                          [genioux fact deduced or extracted from WSJ]

                          This is a “genioux fact fast solution.”

                          Tag Alerts those traveling at high speed on GKPath

                          Type of essential knowledge of this “genioux fact”: Essential Analyzed Knowledge (EAK).

                          Type of validity of the "genioux fact". 

                          • Inherited from sources + Supported by the knowledge of one or more experts.


                          Authors of the genioux fact

                          Fernando Machuca


                          References




                          ABOUT THE AUTHORS


                          Jing Yang

                          Senior Correspondent, The Wall Street Journal

                          Jing Yang is a Hong Kong-based senior correspondent covering M&A, IPOs, private equity and broad finance and business news in the region. She previously covered Chinese conglomerates for Bloomberg News in Shanghai and has also worked at the South China Morning Post and shipping journal Lloyd's List.

                          Jing has a master's degree in journalism from The University of Hong Kong. She can be reached at jing.yang@wsj.com or +852-2832-2331. Follow her on Twitter @jingyanghk


                          Keith Zhai

                          Senior Correspondent, The Wall Street Journal

                          Keith Zhai is a senior correspondent for The Wall Street Journal who covers China and its impact on the world out of Singapore.

                          He was part of a team of Reuters reporters that won the Pulitzer finalist for international reporting for coverage of the Hong Kong protests in 2019. He has also received awards from the Society of Publishers in Asia, the region's top journalism awards. 

                          He can be reached at Keith.Zhai@wsj.com or @qizhai. 


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