A public screen displays the Shenzhen Stock Exchange and the Hang Seng Index figures in Shanghai on February 7, 2022. Months of crackdowns on the tech sector have taken a heavy toll on related Chinese stocks, on domestic and foreign exchanges, but restrictive measures could start to ease. Photo: Bloomberg
New China policies to support Big Tech platforms in innovation, globalisation, official newspaper says
- News of the policies aligns with political messaging in Beijing that the months-long crackdowns on the tech sector would start to ease
- Crackdowns that started at the end of 2020 have wiped about US$2 trillion in value from Chinese tech stocks, compounding pandemic-fuelled economic woes
A public screen displays the Shenzhen Stock Exchange and the Hang Seng Index figures in Shanghai on February 7, 2022. Months of crackdowns on the tech sector have taken a heavy toll on related Chinese stocks, on domestic and foreign exchanges, but restrictive measures could start to ease. Photo: Bloomberg