The Chinese stock market has seen a difficult two years. Starting with harsh regulatory crackdowns in late 2020, and then followed by strict Covid-19 lockdowns that saw entire cities grind to a standstill, the result was billions of dollars wiped off the books of China’s tech giants and once-promising enterprises. However, things are headed for a change. China is attempting...
A Tencent sign is seen at the World Internet Conference in Wuzhen, Zhejiang province, China, on Oct 20, 2019.The Chinese stock market has seen a difficult two years. Starting with harsh regulatory crackdowns in late 2020, and then followed by strict Covid-19 lockdowns that saw entire cities grind to a standstill, the result was billions of dollars wiped off the books of China’s tech giants and once-promising enterprises.
These are positive changes — and certainly much needed — and make for good reasons to be optimistic about the reopening of the world’s second-largest economy. However, it’s not all smooth-sailing ahead. The country is still struggling with the rather abrupt reversal of its notorious zero-Covid policy, with consumption remaining depressed as a result.
In contrast to the Western-style, free-form capitalism of Silicon Valley, where powerful businesses are seen as partners to be wooed, the Communist Party of China has no qualms cracking down on what it deems to be a threat.fateful speech on Oct 24What followed was a swift and harsh crackdown on Jack Ma’s empire, starting with a suspension of Ant Group’s IPO and involving a USD2.8 billion record fine.
All these culminated in a staggering 60.7 per cent drop in the benchmark Golden Dragon China Index from its record high of Feb 19, 2021 — a situation that braver investors would recognise as a buying opportunity.Well, analysts point to the new regulations and laws that have been introduced in the wake of the tech crackdowns, which offer greater certainty moving forward .
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Potential Covid-19 wave in China does little to dent Chinese New Year festivitiesThere have been reports of attractions across the country having to turn away visitors due to overcrowding. Read more at straitstimes.com.
Read more »
China-based firm ties up with genealogy society to help Chinese-Singaporeans trace rootsMy China Roots plans to establish a family history centre here to help Singaporeans conduct targeted online searches. Read more at straitstimes.com.
Read more »
Commentary: The end of Chinese lockdowns and the reopening of tradeRisks of disruption to ports and shipping are outweighed by a boost to global demand, says the Financial Times' Alan Beattie.
Read more »
Ronaldo's Saudi switch another symbol of Chinese declineHONG KONG : Cristiano Ronaldo's headline-grabbing arrival at Al Nassr on a bumper pay deal captured global attention last month, but in an alternate world the five-time Ballon D'or winner may well have been destined for a move further east.The Portuguese striker's Saudi Arabia switch following the cancell
Read more »
Ronaldo's Saudi switch another symbol of Chinese football's declineHONG KONG: Cristiano Ronaldo's headline-grabbing arrival at Al Nassr on a bumper pay deal captured global attention last month, but in an alternate world, the five-time Ballon d'Or win
Read more »