China Takes Steps to Ease up on Regulatory Crackdown as Economy Slows – U.S News & World Report Money

HONG KONG (Reuters) – Beijing has given tentative approval for Ant Group to revive its initial public offering (IPO) in Shanghai and Hong Kong, two sources told Reuters on Thursday, the biggest sign yet of a cooling of Beijing’s tough stance on the technology sector.

Ant, an affiliate of Chinese e-commerce behemoth Alibaba Group Holding Ltd, aims to file the preliminary prospectus for the offering as soon as next month, said the sources.

China in recent months has changed its tone and tack towards the regulatory crackdown campaigns it waged against a wide range of industries from technology to property since late 2020, as it seeks to boost an economy hurt by COVID-19 lockdowns.

The shift in messaging has ignited hopes for companies and investors that the worst is over, though jitters remain.

Here is a timeline of key events underscoring the easing of China’s regulatory crackdown since the beginning of this year:

Feb. 10: China’s cyberspace watchdog said it had held a symposium with…

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