China has shown signs of easing its crackdown on the technology sector which has wiped billions of dollars of value from its most prominent companies. But analysts said Beijing’s recent positive rhetoric should not be mistaken for a reversal of policy. “I think the big tech companies will have a grace period for maybe the next six months,” Linghao Bao, …
A technologist inspects a computer chip. Sefa Ozel | E+ | Getty Images GUANGZHOU, China — China’s technology sector has taken a wild ride over the past year, with regulations tightened, billions of dollars wiped off companies’ market value, and a continuing push from Beijing for technological self-sufficiency. Those are among the important themes that will be addressed at CNBC’s …
GUANGZHOU, China — Meituan shares surged over 7% on Monday, leading China technology stocks higher, after the food delivery giant was slapped with a fine as a result of an antitrust probe. On Friday, China’s State Administration for Market Regulation (SAMR) said Meituan abused its dominant position in the country’s online food delivery market. The market regulator said Meituan pushed …
Tencent Games shows off its latest titles at the China Joy gaming conference in Shanghai on Friday, July 30, 2021. Arjun Kharpal | CNBC GUANGZHOU, China — Shares of Tencent and Netease fell on Thursday morning after Chinese regulators called them and other gaming companies for an interview, reminding them of restrictions on game time for children. China’s propaganda department, …
Five-starred red flags line the Nanjing Road pedestrian street in Shanghai, China, on June 22, 2021. This year marks the 100th anniversary of the Communist Party of China. Costfoto | Barcroft Media | Getty Images GUANGZHOU, China — Chinese authorities have introduced a slew of legislation in the past few months, largely aimed at the tech sector — a move …
China’s national flag Russell Monk | The Image Bank | Getty Images GUANGZHOU, China — China’s market regulator issued draft rules on Tuesday aimed at stopping unfair competition on the internet, as Beijing continues its broad crack down on the country’s technology sector. The rules published by the State Administration for Market Regulation (SAMR) cover a wide range of areas …
In this photo illustration the Chinese technology firm Tencent logo seen on an Android mobile device with People’s Republic of China flag in the background. Budrul Chukrut | SOPA Images | LightRocket | Getty Images GUANGZHOU, China — Chinese technology giants are looking to make changes to their business models and working practices in order to preempt moves by regulators …
Traders work during the IPO for Chinese ride-hailing company Didi Global Inc on the New York Stock Exchange (NYSE) floor in New York City, U.S., June 30, 2021. Brendan McDermid | Reuters China’s technology giants have grown into some of the world’s most valuable companies largely unchecked by regulation — but that’s changing. Since the 2017 Cybersecurity Law, China has …
