Beijing broadcaster’s 1 per cent stake in short video app Kuaishou latest sign of increasing state influence over platforms
- The move enhances the Beijing government’s control of an influential internet platform with 347 million active users in the second quarter
- Such investments are not new in the country, but they have raised concerns about meddling by the Chinese state in Big Tech
A state-run media outlet has taken a small stake in Kuaishou, China’s second biggest short video platform after TikTok sister app Douyin, in a move that could give Beijing direct influence over one of the country’s most popular internet platforms.
Beijing Radio and Television Station, controlled by the Beijing municipal government, invested 1.01 million yuan (US$140,000) for a 1 per cent stake in Beijing Kuaishou Technology, the mainland Chinese entity of the short video giant, according to records on Chinese corporate data provider Qichacha.
The remaining 99 per cent of the entity, which holds a number of domestic broadcasting licenses, is owned by Beijing Huayi Huilong Network Technology, a company 90 per cent-owned by Kuaishou co-founder Yang Yuanyi, according to QiChaCha records.
On October 26, the same day the investment in Kuaishou was made, the short video company appointed Shi Yesen, the name of an official at the Beijing Radio and Television Station, as board director. It is not known whether the new director is the same person, or if there are two people sharing the same name.
Kuaishou did not immediately respond to a request for comment on Monday.
The investment and appointment of a director enhances the Beijing government’s control of an influential internet platform. Kuaishou reported 347 million active users in the second quarter.