China is relentlessly cracking down on slotxo tech giants. From ride-sharing company Didi (DIDI) to internet giant Tencent and Alibaba's Ant Financial Group (BABA),

billions of dollars have been washed away. Chinese stocks rose amid concerns that what was once a simple growth opportunity turned out to be a high-risk gamble.

The crackdown is fueled by the rapid growth of China's largest tech company and leader. Which has not always pulled the party line, such as Jack Ma of Alibaba.

The move to take control of the Chinese tech giant also comes after the US. Passes a law that prohibits foreign companies from trading on the US stock market.

unless they succumb to the review. such law The “Foreign Companies Ownership Act” may have fueled fears the Chinese government that information about its citizens could fall into the hands of its biggest political rivals.