In the early days of internet development, administrative intervention was far from uncommon.
Portal websites, in particular, involved news dissemination and thus drew intense scrutiny from the authorities above. The reason Sina had adopted a VIE structure when it initially went public was precisely to bypass certain administrative restrictions. Back in the day, Wang Zhidong used to stake out the entrance of the Ministry of Information Industry just to catch a glimpse of the leadership, revising his plans over and over again before finally managing to find a workaround and take the company public in the US.
As a veteran titan who had spent many years deeply entrenched in the industry, Duan Yongji undoubtedly possessed formidable connections at the upper levels. Not a single business tycoon from the older generation lacked strong ties in high places, to say nothing of Duan Yongji, who was deeply rooted in Beijing.
Chapter 204