Kendra Schaefer 凯娜 on Twitter

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Kendra Schaefer 凯娜‏ @kendraschaefer Jul 7

"In the barbaric growth stage, internet companies have been laissez-faire about [security and compliance]. In additional to long-standing problems such as personal information collection and cross-border data flow, there are also huge hidden dangers at the capital level." 6/16

1 reply 2 retweets 24 likes

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Kendra Schaefer 凯娜‏ @kendraschaefer Jul 7

"China has restrictions on foreign investment in certain areas such as the Internet, news media, education, and finance. However, through the VIE structure, foreign investment has bypassed many investment restrictions and has entered almost all areas of China's Internet." 7/16

1 reply 2 retweets 26 likes

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Kendra Schaefer 凯娜‏ @kendraschaefer Jul 7

"It is undeniable that the VIE structure made important contributions to the development of China's Internet. ... But through the VIE structure, almost all Internet companies in China have their rights and interests in foreign countries first." 8/16

1 reply 3 retweets 28 likes

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Kendra Schaefer 凯娜‏ @kendraschaefer Jul 7

"This backwards situation has become a huge hidden danger in national network security. Therefore, these Chinese Internet companies should step out of the gray area of the VIE structure and move toward a more rational and normalized corporate governance structure." 9/16

4 replies 1 retweet 23 likes

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Kendra Schaefer 凯娜‏ @kendraschaefer Jul 7

"[They should adopt a] structure that not only meets the needs of national cyber security, but also facilitates corporate financing and listing, and [facilitate] opening the industry [through] sound development practices." 10/16

1 reply 1 retweet 17 likes

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Kendra Schaefer 凯娜‏ @kendraschaefer Jul 7

"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

1 reply 2 retweets 19 likes

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Kendra Schaefer 凯娜‏ @kendraschaefer Jul 7

"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

1 reply 1 retweet 16 likes

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Kendra Schaefer 凯娜‏ @kendraschaefer Jul 7

"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

1 reply 6 retweets 16 likes

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Kendra Schaefer 凯娜‏ @kendraschaefer Jul 7

"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

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Kendra Schaefer 凯娜‏ @kendraschaefer Jul 7

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

2 replies 2 retweets 18 likes

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Kendra Schaefer 凯娜‏ @kendraschaefer Jul 7

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

7:54 PM - 7 Jul 2021