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"In short, next, Chinese Internet companies must step out of the comfort zone of barbaric growth and adapt to China’s new institutional environment and the basic requirements of network governance." 11/16
"Compliance [is not only about] risk management for Chinese Internet companies, but also the only way for companies to cope with the increasingly complex international environment and seek greater certainty." 12/16
"In the short term, compliance is a cost burden for enterprises, but in the long term, it is an important manifestation of the competitiveness of an enterprise." 13/16
"Many of the problems with the Internet in China today are caused by the lack of legal compliance. This is a long-term debt, and [the current crackdown is a] make-up lesson. " 14/16
In particular, at the data level ... Internet companies have always been outside the system by virtue of their monopoly status, or the "black box" created by a lack of supervision." 15/16
This is what we've been saying for the last few days: Beijing is breaking some eggs to make an omelette. It wants its internet companies to be compliant at home, and their first loyalties to be domestic - that's the prerequisite for going abroad. 16/16
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