China is taking small stakes in tech firms to tighten control over them | Forexlive

Reuters however have a brief summary, main points:

China is moving to take minority stakes with special rights in the local units of Alibaba Group Holding Ltd and Tencent Holdings Ltd, the Financial Times reported on Friday.
Seeking influence, Beijing began taking these stakes, called “golden shares,” in private online media companies – usually about 1% of a firm – more than five years ago.
These golden stakes are bought by government-backed funds or companies which gain a board seat and/or veto rights for key business decisions.