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Chinese tech giants look to make business changes in a bid to preempt regulators

Chinese tech giants look to make business changes in a bid to preempt regulators

7/15/2021 10:42:00 AM

Chinese tech giants look to make business changes in a bid to preempt regulators

Chinese regulators have introduced new rules in areas from anti-monopoly to data security. Big tech firms are looking to get ahead of the rules.

TheWall Street Journalreported on Wednesday that Alibaba and Tencent are looking to loosen up some of these blocks on each others' products. This could include allowing WeChat Pay as an option on Alibaba's shopping services."Such measures of self-regulation would be ahead of the regulation curve, as Tencent often is – and Alibaba hasn't been," Neil Campling, head of technology, media and telecoms research at Mirabaud Securities Limited, said in a note on Wednesday.

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996 work cultureTechnology companies are also trying to make changes to the long-standing practice of grueling work hours known as 996.This refers to employees working from 9 a.m. to 9 p.m, six days a week. Alibaba founder Jack Ma once called the 996 culture a "huge blessing," but it has faced intense criticism.

On Tuesday, Ling Zhenguo, a member of China's top political advisory body known as the Chinese People's Political Consultative Conference, wrote an op-ed in the entity's official newspaper, apparently criticizing the 996 culture.The internet economy should put "people at the center" shouldn't link "every profit made with every hard working minute of employees," according to a CNBC translation of the Mandarin article. headtopics.com

"We must be clearly aware that it's in contrast to the market economy with Chinese characteristics to regard people's legs as wheels and hands as robots," Ling added, effectively saying that humans should be treated as humans.Ling's article highlights how 996 work culture could be targeted next by Beijing.

But technology companies have already begun to tweak their practices. Read more: CNBC »

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