China Plans Reprieve for Tech Giants, Including Delaying New Rules, as Economy Slows (US.BABA) - 29 aprilie 2022
China is preparing to hit pause on its monthslong campaign against technology companies, according to people familiar with the matter, as officials seek to arrest a rapid deterioration in the country’s economic outlook. The government has already taken such measures in managing internet-content companies such as ByteDance Ltd., the owner of buzzy short-video platform TikTok, and Weibo Corp. WB +8.24% , operator of the eponymous Twitter -like microblogging platform.
But notably, they did so without giving a concrete timeline, while making clear that any oversight would be more standardized to “support the healthy development of the firms”—relatively dovish language that fueled double-digit-percentage jumps in the share prices of Alibaba Group Holding Ltd. +11.30% and other Chinese tech stocks.