The view from China
A ‘quiet’ August?
August is traditionally a ‘quiet’ month with much of Europe on holiday and other western nations and their various institutions taking time off.
And China’s elite leadership are also taking time away from the rigours of running the world’s second largest economy and relaxing in time honoured tradition in the seaside resort of Beidiahe, some 350 km east of the capital.
However, August has been anything but quiet for China’s tech and private sectors. Successive regulatory crackdowns have not only wiped billions from the fortunes of Tencent, Pinduoduo and Alibaba’s founders, but also sent shockwaves around the world as foreign investors re-assess their exposure to the China market.
Indeed, earlier in the week China released a five-year plan that will further strengthen regulatory control in strategic sectors such as tech and healthcare.
We also saw the publication of the US China Business Council’s (USCBC) annual China member survey which highlighted the p