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Opinion
Shuli Ren

If You Think China Cares About Investors, Think Again

Beijing relaxing its grip on tech companies has less to do with stocks and more to do with cutting unemployment.

Gig economy workers at a Meituan delivery station in Shanghai.

Gig economy workers at a Meituan delivery station in Shanghai.

Source: Bloomberg/Bloomberg
Updated on

All of a sudden, the hawks in the Chinese government are loosening the grip on their prey. 

The big tech companies that suffered the most from a yearlong crackdown might soon see light at the end of the tunnel. In recent days, China accelerated the approval of new video game titles, ending an eight-month freeze in the world’s largest mobile-entertainment market. Meanwhile, regulators are preparing to lift a ban on new users at ride-hailing giant Didi Global Inc., according to the Wall Street Journal. The Nasdaq Golden Dragon China Index rose more than 20% over the last month.