The South China Morning Post, which first reported on the upcoming meeting, said that tech giants Alibaba Group Holding, Tencent Holdings and TikTok owner ByteDance were also invited. Authorities are seeking to reassure the corporate executives about the current regulatory environment and encourage them to continue to develop their business, one source told Reuters. China lifted a nine-month freeze on gaming licences earlier this month partly to alleviate the economic fallout from the ban. The Hang Seng Tech index rose 10% for its best day since Vice Premier Liu He promised policy support six weeks ago. Markets had been hit hard over the past two weeks by fears that lockdowns would cause severe damage to China’s economy and derail a global recovery just as many countries are rebounding from pandemic-led slumps.
Source: MetroXpress April 29, 2022 13:58 UTC