China’s embattled tech tycoons lined-up to pledge their support for President Xi Jinping’s "common prosperity” policy and market-roiling regulatory onslaught on the digital sector, at the country’s annual internet conference.
Alibaba Group Holding Ltd.’s Chief Executive Officer Daniel Zhang and Tencent Holdings Ltd.’s Senior Vice President Guo Kaitian on Sunday voiced their backing for Xi’s flagship goal to narrow the country’s wealth gap, at the World Internet Conference hosted in the resort town of Wuzhen, which is being held through Tuesday.
Xiaomi Corp.’s co-founder Lei Jun said on the same day that technology companies should help close the digital divide and boost small and medium-size enterprises, two of Beijing’s long-standing policy pursuits.
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