China tightens grip on tech giants as Xi demands industrial push
By MLex Staff ( June 1, 2026, 07:43 GMT | Insight) -- China escalated pressure on platform companies, demanding they shift from consumer-focused innovation to supporting national industrial goals seen as critical for geopolitical competition. The criticism appeared alongside President Xi Jinping's previously undisclosed January speech designating six priority sectors — including quantum technology, fusion energy and embodied intelligence — as "the main attack direction" for China's industrial strategy through 2030, underscoring Beijing's dual track of tightening control over existing digital businesses while mobilizing resources for emerging industries.China escalated pressure on its technology sector with a sweeping critique of platform companies' business practices, demanding they serve national industrial goals after President Xi Jinping outlined a disciplined approach to developing strategic technologies vital to geopolitical competition....
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