, Columnist
Nationalization Is Coming to China's Data Centers
Beijing is taking steps that will give the government not only access to, but purported ownership of, the vast amounts of information that companies collect.
Stately.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Anyone in China who creates, collects, stores, processes or sells data should consider themselves on notice: Nationalization is coming.
Ant Group Co. is about to have its credit-scoring business taken over by stated-backed firms, Reuters reported Wednesday. It’s safe to say that the Alibaba Group Holding Ltd. affiliate itself doesn’t have much say in the matter. Under the restructuring, according to Reuters, Ant will become a minority holder in a joint venture that will own the fintech company’s repository of data on more than 1 billion users.