A Wild Week in China Rolls Tech Stocks, Date Markets, Hong Kong


Photographer: Qilai Shen / Bloomberg

Chinese officials stepped in on several fronts to rein in potential risks to Communist Party rule, touching everything from tech firms to bond markets to political dissent in Hong Kong.

Investors ripped off the markets as investors to justify the changes emanating from Beijing’s opaque corridors. They arrived soon after the Ant-Group Company’s record-breaking shock suspension $ 35 billion initial public offering.

Here’s a quick roundup of the latest happenings:

Tech crackdown

China’s state administration for market regulation is a sleepy government bureaucracy essentially unknown outside the country. But on Tuesday morning, SAMR dropped 22 pages of dense regulatory proposals that wiped out $ 290 billion in market value and signaled the country’s most comprehensive overhaul of the country’s technology industry since the founding of the People’s Republic six decades ago .

Regulators set its monopoly Alibaba Group Holding Limited and Tencent Holdings Limited, which are among the most valuable companies in the world. The new rules may prevent them from acquiring promising startups and force them to sell bets to other companies.

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