China’s pledge to step up antitrust efforts and prevent the disorderly expansion of capital will continue to be a focus for the government next year, China Renaissance’s Pang said. A more regulated tech industry will help push domestic consumption and grow the post-covid economy as the rest of the world struggles to contain the pandemic, he said.
“We view the latest regulatory move as a continuing effort on China’s regulatory reform path, seeking to achieve more market fairness and encourage healthy development of the whole economy as well as of areas where internet companies’ potential monopoly power has a material impact,” Pang said.
This article was provided by Bloomberg News.