Chinese government is preparing to crack down on online companies

After Chinese businessman Jack Ma’s company Alibaba and Ant Group, now the Chinese government can tighten up other tech companies as well. Chinese President Xi Jinping has indicated that his government will take a more strict stance against the platform companies (online company) that have captured data and market forces. It is believed that the month-long action on China’s Internet sector is just the beginning. President Xi Jinping held a meeting with the Chinese Communist Party’s top financial advisors and coordination committee. In this, Jinping has ordered the regulators to monitor Internet companies and take strict action against the monopoly. Jinping has directed that healthy competition in the market should be promoted and the capital expansion should be prohibited.