Chinese Tech Stocks Advance as Signs of Official Support Grow
- Hang Seng Tech Index is on track for best week this year
- Government is sending friendly gesture to tech firms: Forsyth
This article is for subscribers only.
China’s tech stocks gained for a fourth day in Hong Kong as growing signs that the government’s long crackdown on the sector is finally over bolstered investor confidence.
The latest leg of the rally came after Chinese Premier Li Qiang met with senior executives from country’s leading tech firms Wednesday and urged local governments to provide more support to the enterprises. He asked the companies to support the real economy through innovation and pledged that officials will create a fair environment and reduce compliance costs.