Beijing praises Alibaba, Pinduoduo, Meituan for anti-poverty efforts, signalling easing tensions between regulators and Big Tech
- Three of China’s biggest e-commerce companies were singled out for awards for helping the country’s anti-poverty efforts
- After a ramp-up in antitrust scrutiny, analysts say the awards are a positive sign for Big Tech and investors
Alibaba Group Holding, Pinduoduo and Meituan were among the few tech companies that the Chinese government publicly recognised and praised at a conference on Thursday for their help in poverty alleviation, a sign of easing tensions between Beijing and Big Tech following enhanced regulatory scrutiny in recent months.
Beijing’s recognition of the role played by Alibaba, the owner of South China Morning Post, is part of the government’s celebration of what Chinese President Xi Jinping declared “complete victory” in eradicating absolute poverty. Xi presented awards to 1,501 organisations – mostly local government organs, schools and enterprises – and 1,981 individuals for their contributions to the effort.
The inclusion of the country’s e-commerce giants in the awards comes as Beijing continues to encourage them to align corporate development goals with national strategic goals, such as eradicating poverty and seeking technological independence in key areas.
Ding Daoshi, director of research at internet consultancy Sootoo in Beijing, said the government is sending a message that it still wants Big Tech to play a role in creating social and economic goods, even as it seeks to rein in their expansion.
