Going Public and Going Global: Chinese Internet Companies and Global Finance Networks
Bibliographic record
Abstract
This paper examines an often-overlooked yet significant dimension in the globalisation of Chinese internet companies and their tight relationships with global financial institutions and networks. Since the early 2000s, waves of Chinese internet companies have gone public. What this means is that internet companies in China are increasingly relying on and competing in the global capital market to fund their rampant expansion.This paper analyses the role of finance institutions and networks in the globalisation of nine Chinese internet companies from three vantage points; firstly, these companies’ use of investment banks as underwriters for IPOs; secondly, their carefully designed ownership structures, including offshore holdings and Variable Interest Entities (VIE) structure; and lastly the ascending power of financial institutions in the ownership and management of these internet companies. By examining the role finance networks and institutions played in the globalisation of Chinese internet companies, this paper unveils the capitalist logic and shifting power relations at play in the political economy of the Chinese internet.
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How this classification was reachedexpand
Full frame distilled prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.
Codex and Gemma teacher scores by category
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.000 | 0.000 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.000 | 0.000 |
| Science and technology studies | 0.000 | 0.000 |
| Scholarly communication | 0.000 | 0.000 |
| Open science | 0.000 | 0.000 |
| Research integrity | 0.000 | 0.000 |
| Insufficient payload (model declined to judge) | 0.000 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one teacher head, not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".