China deepens support for tech as virus limits options – Dunya News

BEIJING (AFP) – Communist Party leaders have doubled down on support to China’s tech sector in a rare meeting with executives, as Beijing changes its tack towards an industry it had suppressed until a virus rebound.

China — the last major global economy sticking to a rigid zero-Covid policy — is contending with an economic slump due to prolonged virus lockdowns which have constricted supply chains, quelled demand and stalled manufacturing.

That appears to have motivated a softer approach towards the vast, money-spinning tech sector, after an 18-month crackdown driven by fears its massive internet companies control too much data and expanded too quickly.

The Chinese public’s ubiquitous use of apps that streamline payments with everyday needs, from transport to shopping, have contributed to China’s booming so-called “platform economy” — in which brisk commerce takes place over digital spaces controlled by tech giants.

Vice Premier Liu He and other Communist leaders addressed…

Read Full Story: https://dunyanews.tv/en/Technology/652781-China-deepens-support-for-tech-as-virus-limits-options

The post China deepens support for tech as virus limits options – Dunya News first appeared on SEO, Marketing and Social News | OneSEOCompany.com.

source: https://news.oneseocompany.com/2022/05/18/china-deepens-support-for-tech-as-virus-limits-options-dunya-news_2022051820169.html

Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.