Since the suspension of Ant Group's blockbuster IPO last year Beijing has embarked on an unprecedented clampdown of its technology sector.
The natural progression to this was when Alibaba was hit with a record fine of ¥18bn in April 2021 for, supposedly, abusing its market dominance. More recently, however, the regulatory clampdown has intensified, causing a sell-off in those sectors deemed "socially sensitive" and leading many to question whether it is worth investing in China. Casualties have included online gaming and social media company Tencent - Asia's largest stock by market value - after the Chinese state media described games as "spiritual opium" and "electronic drugs". Rivals NetEase and Nexon Co were also caught ...
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