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China swoops on algorithms

China is seeking to tighten oversight of the algorithms technology companies use to drive their business, issuing far-reaching draft rules in Beijing’s latest move to crackdown on its internet sector. The Cyberspace Administration of China said in a statement on Friday that companies must abide by business ethics and principles of fairness and should not set up algorithm models that entice users to spend large amounts of money or spend money in a way that may disrupt public order. The move will directly impact some of China’s biggest tech companies with shares in e-commerce giant Alibaba Group falling as much as 5.2% in Hong Kong. Is china killing market creativity ?

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