September 8, 2021
The situation in China seemed to be turning around as new regulations seemed to stall, and the country's biggest companies like Alibaba and Tencent Holdings posted glowing earnings reports, but once again the goal posts have been moved. Other industries in China have seen regulation increases historically: coal mines, steel mills, and shadow banking. These industries were less of a concern for western investors, but now they are targeting internet platform companies. In the past week, authorities in the country limited the amount of time teens could spend playing online gaming, banned celebrity rumors on the web, and vowed to curb 'chaotic' financial information. These vague regulatory promises have hurt fundamentally sound companies, and those interested in Chinese investment are pursuing new industries like the growing biotech sector.
FINSUM + Magnifi: Just when investors thought they were out of the woods, regulation resumes. However, these vague pledges haven’t actually materialized into much legislation yet.
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