The investment arms of state-owned telecom operator China Unicom and internet behemoth Tencent have gained unconditional regulatory approval for a newly created joint venture (JV), according to an official document widely circulated on Wednesday, a major progress of the country s mixed-ownership reforms.
Bulls regained footing in the wake of China’s pro-growth economic policy “package 2.0”, with the benchmark indexes tracking the Chinese mainland and Hong Kong stocks roaring back on Thursday, as the latest policy measures boosted sentiment.
China s internet regulator fined ride-hailing giant Didi Global 8.026 billion yuan ($1.2 billion) for 16 legal violations, calling an end to a cybersecurity probe that lasted more than one year and sending a strong signal that will lay the ground for the healthy development of internet-based platform economy.
China’s top legislative body voted on Friday to adopt amendments to the country’s Anti-Monopoly Law, and the new law will take effect on August 1, a revision which has closed certain loopholes in existing regulation in terms of abusing market dominant position while drawing a clearer “bottom line”for private firms on illicit acts that threaten fair market competition.
The China Securities Regulatory Commission (CSRC) said on Thursday that it is not assessing or studying the potential revival of Ant Group s IPO, in response to media reports claiming that the agency has set up teams to review the fintech firm s listing plan.