Yahoo to stop operation in China
Yahoo has shut down its services in China, making it the latest American tech firm to leave the nation.
A Yahoo representative said in a statement that the decision was made “in recognition of the increasingly tough business and regulatory climate.”
“Yahoo is devoted to our users’ rights as well as free and open internet. We appreciate the support of our users.”
Since 2013, major Yahoo features, including email and news, have been unavailable in China. Yahoo shuttered its Beijing branch in 2015, resulting in the loss of around 300 jobs.
Operating in China has long been a challenge for private companies, but in recent months, Chinese President Xi Jinping has orchestrated a sweeping regulatory crackdown on the tech, education, gaming, and entertainment industries that has wiped a huge amount of market value off China’s biggest companies.
Yahoo has joined Microsoft’s LinkedIn social network in exiting China, which announced its exit last month due to a “much more demanding operating environment and more compliance requirements in China.”
