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Daily Digest of Tech Policy News and Updates (April 12, 2021)

 This is our inaugural daily digest, bringing you quick updates on the tech space, policy making and digital rights from India and across the globe. China has begun cracking down on tech firms Dissent does not go down well with the Communist Party of China, even if you've built a $110 billion e-commerce empire and a $220 billion fintech giant. The Chinese government has historically always stepped in when members of the corporate elite amass 'too much' wealth. In 2016, the government forced  Wang Jianlin,  the founder of the commercial real estate Dalian Wanda Group Co. Ltd, to sell his overseas assets and develerage his business. A year later, China's richest person, Hui Ka Yan was directed to deleverage and sell his personal assets as his company was highly indebted. For Jack Ma, the founder of Alibaba and Ant Fintech, two Chinese behemoth companies, a speech in October last year cost him dearly. His Ant Group IPO was put on hold by the government, the Chinese antitrust watchdog fined Alibaba $76,500 over a few acquisitions and now the same regulator has set issued fine of $2.8 billion against Alibaba. The last large fine on a company by the antitrust regulator was $1 billion. The fine is unprecedented as it about 12% of Alibaba's net income in 2020. The Chinese markets regulators' investigation found that Alibaba used its platform rules, data and algorithms to gain "improper advantage" over its competitors. While Ma remains third richest person in China, he has lost…

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