#CCPGrip #Yahoo
Second US tech firm withdraws from China in less than a month as Beijing tightens grip
Yahoo has announced its withdrawal from the Chinese market in the latest retreat by foreign technology firms responding to Beijing’s tightening control over the industry.
“In recognition of the increasingly challenging business and legal environment in China, Yahoo’s suite of services will no longer be accessible from mainland China as of November 1,” the company said on 2 November 2021.
The timing of the pullout coincided with the implementation of China’s new data protection law, which came into effect on 1 November 2021.
Yahoo’s withdrawal came less than a month after another US tech company, Microsoft’s professional networking platform #LinkedIn, announced it was shutting down operations in China. In public, the company blamed a “significantly more challenging operating environment” as well as “greater compliance requirements in China”.
Source: Stand News, Guardian; #Nov2
https://thestandnews.page.link/q4JuEyEF8tZ3ymqUA
Second US tech firm withdraws from China in less than a month as Beijing tightens grip
Yahoo has announced its withdrawal from the Chinese market in the latest retreat by foreign technology firms responding to Beijing’s tightening control over the industry.
“In recognition of the increasingly challenging business and legal environment in China, Yahoo’s suite of services will no longer be accessible from mainland China as of November 1,” the company said on 2 November 2021.
The timing of the pullout coincided with the implementation of China’s new data protection law, which came into effect on 1 November 2021.
Yahoo’s withdrawal came less than a month after another US tech company, Microsoft’s professional networking platform #LinkedIn, announced it was shutting down operations in China. In public, the company blamed a “significantly more challenging operating environment” as well as “greater compliance requirements in China”.
Source: Stand News, Guardian; #Nov2
https://thestandnews.page.link/q4JuEyEF8tZ3ymqUA