2021-05-31-澳洲智库-Reining_in_China_s_technology_giant_36页_1mb

Mapping China's Technology Giants Summary

• Background and Purpose: The report analyzes China's technology giants' global expansion and governance structures, driven by the COVID-19 pandemic and US-China tech competition. It emphasizes the need for technological self-reliance and is part of the ASPI's multi-year Mapping China’s Technology Giants project, funded by the US State Department.

• Key Companies Covered: 27 firms spanning AI, surveillance, e-commerce, finance, and biotechnology, including Huawei, ZTE, BGI, ByteDance, and Alibaba, were tracked for their overseas presence and growth.

• COVID-19 Impact: The pandemic boosted revenue and growth for most companies due to increased demand for tech services. For example, Tencent's revenue grew by 50% due to donations and expansions in services like WeChat Health Code. However, sanctions, such as the US Entity List, slowed others like Huawei.

• US-China Tech Tensions: Sanctions from the US, including Entity List designations, disrupted supply chains for companies like Huawei and ZTE. The report details how US actions encouraged global allies to limit Chinese tech firms, leading to losses for Huawei's growth in 2020 but minimal impact on giants like Alibaba.

• Supply Chain Localization: China's strategy shifted to "dual circulation" after the pandemic, focusing on reducing reliance on foreign tech through investments in semiconductors and key technologies. Programs like the US$2 trillion "new infrastructure" plan aim for breakthroughs in AI and 5G.

• Domestic Regulation: China increased regulatory scrutiny on tech firms to curb monopolies and align with national goals. This includes antitrust fines (e.g., Alibaba's US$2.81 billion fine) and structural reforms, reflecting concerns about data security and ideological alignment.

• Conclusion: The report concludes that while COVID-19 provided short-term growth for some companies, long-term pressures from sanctions and competition push China toward technological self-sufficiency and enhanced domestic control, potentially at the cost of overseas expansion.

For more details, refer to the full report's appendices and notes.