The Chinese regime has made investments in two of the nation’s most significant technology firms—ByteDance, the Chinese company that owns global video app TikTok, and Weibo, China’s version of Twitter—in a move apparently intended to bolster its sway over the nation’s technology sector. In April, ByteDance sold a 1 percent stake in its Chinese subsidiary, Beijing ByteDance Technology Co., to WangTouZhongWen (Beijing) Technology, a state-backed firm, according to public records and the corporate information platform Qichacha. WangTouZhongWen is owned by three Chinese state entities, one of which is linked to a fund backed by the Cyberspace Administration of China, the nation’s internet watchdog, according to government records and Qichacha data. The Information, a U.S. tech site, earlier reported that Bytedance had also given a board seat to a Chinese regime official as part of the deal. A ByteDance spokesperson declined to answer questions about the investment and board seat. But …
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