Yet speak to executives, entrepreneurs and venture capital investors intimately involved in China’s tech sector and a more downbeat picture emerges. Interviews with more than a dozen industry players suggest the outlook is still far from rosy, despite signs that the Communist Party’s crackdown on big tech is softening at the edges.
“China’s tech crackdown has happened. There is no comeback from that,” the entrepreneur said, asking to remain anonymous for fear of retribution. “The regulatory pressure on Chinese tech companies may have hit the brakes for now, given the sluggish economy, but it’s unthinkable that regulators in the country would loosen their grip on platform companies ever again.”On the face of it, China’s US$1 trillion Internet industry is finally emerging from a brutal reckoning.
Beijing has “gradually begun to release some policy signals,” Xin Lijun, retail chief of e-commerce giant JD.com Inc, told Bloomberg Television. But “a return to the past days of ‘riding the horse without holding the reins’ is not very likely”.Alibaba is best-paying tech firm in China but Oppo, Tencent more generous with bonuses, survey finds
“I do feel that there is starting to be some signs of regulatory easing, and truthfully over the last few years, we did see some of this ‘barbaric growth’,” said Guo Changchen, founder of Keeko Robot Technology, a Xiamen-based artificial intelligence education startup. “As long as there are regulations and those regulations are clear, then we can work on our development within this system.”Founders say a maze of government regulations introduced in 2021 have made their lives difficult.
Creative choices are still heavily policed. In February, Shanghai outfit Lilith Games cancelled a new mobile game after deciding its anime-style graphics were unlikely to get past regulators, according to a person familiar with the matter. Chinese censors have a low tolerance for what they consider lewd imagery – such as the more sexualised or explicit iconography popular in Japanese anime.
yes CCP always and always fails. Winnie the flu shot his own foot by his retardedly stubborn covid rules
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