Why are foreign tech firms pulling out of China?
CTV
Yahoo Inc. is leaving the China market, suspending its services there as of Monday amid what it says is an 'increasingly challenging' business and legal environment.
Foreign technology firms have been pulling out or downsizing their operations in mainland China as a strict data privacy law specifying how companies collect and store data takes effect.
Such companies have decided the regulatory uncertainty and reputational risks outweigh the advantages of staying in the huge market.
Yahoo Inc. said in a statement Tuesday its services in China stopped as of Nov. 1. Users visiting the Engadget China site run by Yahoo this week find a popup notice saying the site will not publish any new content.
Last month, Microsoft's professional networking platform LinkedIn said it would shutter the Chinese version of its site this year and replace it with a jobs board with no social networking functions.
