'Chinese Government Takes Stake in Short Video Firm Kuaishou

Stake in Short Video Firm Kuaishou

The stake

was acquired through Beijing Radio and Television Station, which is controlled by the Beijing municipal

The unit

also holds broadcast licenses and is majority-owned by Kuaishou’s co-founder Yang Yuanyi

The transaction

was not reported to the Hong Kong Stock Exchange, where Kuaishou shares are listed

But this

may not be required as the shares of many Chinese firms which are listed on

The same

day that the investment was recorded, Kuaishou appeared to appoint a Beijing Radio and Television

In August,

Kuaishou claimed 587 million monthly average users

That number

may include users from its significant overseas operations in developing countries including Brazil, Pakistan and

Last year,

Internet Investment Chinese (Beijing) Technology, another SOE, took a 1% stake and a board seat in

In April

2020, state-owned Wang Tou Tong Da (Beijing) Technology Co acquired a 1% stake in popular social media

That also

gives the state-owned investor the right to appoint a board director

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