Xi Jinping threatens tech companies again .. Tencent shares plummet ..!
Chinese government agencies a few days ago ordered all public and private banks to fully calculate how much credit is owed to Jack Ma's Ant Group and Alibaba. This is an important step for the Chinese government to take after banning the Ant Group's IPO. But in reality the Chinese government is working to impose new restrictions on all private companies. As a result, Chinese tech stocks are facing a sharp decline in trading. Xi Jinping The Chinese government, led by Xi Jinping, imposed heavy restrictions on tech companies to reduce the dominance of tech companies and prevent monopoly, citing personal information security and cybersecurity. New restrictions The main reason for the decline is that the Chinese government plans to impose new restrictions on private companies, which are expected to be announced soon. Metaverse Shares of leading tech companies in the Chinese stock market have thus fallen sharply. Everyone knows that China has invested heavily in the Metaverse secto...