- April 29, 2022
- Posted by: Stratford Team
- Category: Economy
Register now for FREE unlimited access to Reuters.com
BEIJING/HONG KONG, April 29 (Reuters) – China signalled an easing of its crackdown on the once-freewheeling tech sector on Friday as President Xi Jinping seeks to bolster the economy in the face of growth-sapping COVID-19 lockdowns, sending shares in online heavyweights surging.
China’s powerful Politburo, in a meeting chaired by Xi, said it will step up policy support for the world’s second-largest economy, including its so-called “platform economy”, fueling investor hopes that the worst may be over for an unprecedented, multi-pronged crackdown that began in late 2020.
The optimism was also powered by reports that China’s top leaders will hold a symposium early next month with a number of internet companies,…