China to take ‘golden shares’ in tech firms Alibaba and Tencent

Move marks shift in focus by Beijing as it tries to extend influence and keep sector in check

China is to take golden shares" in two of its biggest tech companies, Alibaba and Tencent, as Beijing extends its influence on the country's star tech firms and its most powerful and wealthy business people.

Beijing's move marks a shift away from imposing hefty fines and sanctions in its two-year tech crackdown, which was launched after Alibaba founder, Jack Ma, criticised regulators,