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China’s Vice Premier Liu Reassures Businesses Amid Crackdowns

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WATCH: “Red ines: China & Big Tech” takes a closer look at the evolving regulatory environment for big tech in China.(Source: Bloomberg)

China’s Vice Premier Liu He made a strong pledge to continue supporting private businesses after a spate of regulatory crackdowns in sectors from after-school tutoring to Internet platforms rocked financial markets.

“The principles and policies for supporting the development of the private economy have not changed,” Liu, who is President Xi Jinping’s top economic adviser, said in a video speech to a digital economy expo in Hebei province, according to a Xinhua News Agency report. “They don’t change now, and will not change in the future.”