"It's a great business," he said. "It should be owned by a US business. There's no way the Chinese would ever let a US company run something like this in China."
In addition to banning US social media, ANY foreign company requires 51% Chinese ownership to operate inside China.
* Is Microsoft 51% owned by Chinese?
* Is Tesla 50% owned by China?
* Is Cayman Islands part of China's territory now?
* Are Sequoia Capital, SoftBank et. al. owned by China too?
* Is 88% smaller than 49%?
ByteDance's owners include its founders and Chinese investors (20%), global investors (60%), and employees (20%).[33] In 2021, the state-owned China Internet Investment Fund purchased a 1% stake in ByteDance's main Chinese subsidiary, Beijing ByteDance Technology (formerly Beijing Douyin Information Service)
Around 44% of Alibaba shares are held by the general public and around 40% are held by institutions. Around 14% are hold by SoftBank Group.
Apparently, majority of the Chinese hi-tech companies are actually owned by foreigners and incorporate in Cayman Islands. Unfortunately, those foreigners are not you but the top 1% in your country. I guess you can blame China for that.
Oh... the Joint Venture requirements? They are implemented by all developing countries and China made (and relaxed) its policies in accordance with the WTO agreements
signed-off by the USA and developed countries. Did China put a gun in head of the USA during negotiation to join this organization set up by the USA? If they didn't, why did your delegates (supposedly democratically elected) and why do you blame China for "mistakes" made by your delegates?
Foreign investment regulation remains an active area of policymaking. In 2020, 67 countries
introduced 152 new measures of which 50 restricted foreign participation or added new obliga-
tions (UNCTAD, 2021). Among developing countries, most new measures encourage inflows
with investment incentives, even as significant restrictions on foreign participation remain in place
(OECD, 2020), most commonly limits on foreign control and mandated pre-establishment screen-
ing. ...
Encouraging policies raised JV exports by $10.3 billion,
and ownership liberalization raised WFOE exports by $27.8 billion. These effects were largely con-
centrated in high-tech sectors, especially those that contribute the largest share of Chinese total
exports.