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China tech

Just how over is China's tech crackdown? It depends who you ask

Optimistic investors push up share prices, but analysts say Beijing's grip not easing

Commuters in Shanghai examine their smartphones. While Beijing has taken a softer tone after two years of crackdowns on the tech sector, experts say it is simply prioritizing the struggling economy.   © Getty Images

HONG KONG -- It has been a good few weeks for China's tech sector, from a regulatory point of view. Gaming groups Tencent Holdings and NetEase both received long-awaited approvals for imported titles, fintech group Ant Group got the greenlight for its consumer lending unit to raise more money, and two communist party officials pledged "unswerving" support to Alibaba Group Holding and Ant, its fintech affiliate.

So when China's top banking regulator Guo Shuqing said over the weekend that a two-year long crackdown on internet companies was "basically complete," it is small wonder that investors cheered. Shares in some of the country's biggest tech companies, including Tencent and Alibaba, have recently hit six-month highs.

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