The Chinese government is understood to have taken a small but significant equity stake in Kuaishou , China’s second largest short video platform and a direct rival to Douyin, the Chinese half of TikTok . The stake was acquired through Beijing Radio and Television Station, which is controlled by the Beijing municipal government. It invested RMB1.01 million ($140,000) for a 1% per cent stake in Beijing Kuaishou Technology, the mainland Chinese unit of Kuaishou, according to records on Chinese corporate data provider Qichacha, cited by media including the South China Morning Post. The unit also holds broadcast licenses and is majority-owned by Kuaishou’s co-founder Yang Yuanyi. The transaction was not reported to the Hong Kong Stock Exchange, where Kuaishou shares are listed. But this may not be required as the shares of many Chinese firms which are listed on stock markets outside the mainland are financial proxies and do not represent ownership. The same day that the investment was recorded,<\/p>\n","protected":false},"excerpt":{"rendered":"
The Chinese government is understood to have taken a small but significant equity stake in Kuaishou, China’s second largest short video platform and a direct rival to Douyin, the Chinese<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[22,1,106],"tags":[],"class_list":["post-270578","post","type-post","status-publish","format-standard","hentry","category-economy","category-news","category-tv-videos"],"acf":[],"_links":{"self":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts\/270578","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/comments?post=270578"}],"version-history":[{"count":0,"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts\/270578\/revisions"}],"wp:attachment":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/media?parent=270578"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/categories?post=270578"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/tags?post=270578"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}