SINGAPORE—China has notified some firms of latest guidelines that require the nation’s greatest web companies to hunt approval for funding offers, a mechanism that’s more likely to curb home expertise giants from rising even larger by acquisitions, in keeping with individuals conversant in the difficulty.
The nation’s high web regulator, the Our on-line world Administration of China, lately established a brand new mechanism that requires web firms to acquire formal approval for funding offers if they’ve 100 million customers or extra or have posted income within the earlier 12 months of at the least 10 billion yuan, equal to $1.57 billion, the individuals mentioned.
