China’s tech crackdown will see ‘more substantial progress’ by year’s end, Beijing vows скачать в хорошем качестве

China’s tech crackdown will see ‘more substantial progress’ by year’s end, Beijing vows

China’s tech crackdown will see ‘more substantial progress’ by year’s end, Beijing vows Chinese authorities say progress is being made in their efforts to clean up the financial irregularities created by privately run tech giants and other industrial capitalists, while doubling down on vows to ensure that funding is available to struggling private businesses amid rising costs and a broad economic slowdown Guo Shuqing, party chief of the People’s Bank of China, pointed to promising “initial results” in the ongoing clampdown on tech giants, in an interview that Communist Party mouthpiece Xinhua published on Tuesday. to prevent monopolies and the disorderly expansion of capital – a mission thatwas again stressed by President Xi Jinping at a Tuesday meeting of the Politburo. The country’s outstanding loans to private enterprises totalled 52.5 trillion yuan at the end of August – an increase of 11.5 per cent since the end of last year – while 70 million private companies received bank loans, an increase of 30 per cent, government data showed. According to data from the All-China Federation of Industry and Commerce released in late September, 281 of China’s top 500 private enterprises had entered the financial sector.