Source: Taiwan Industry and Commerce Times
Industrial and Commercial Society
The Chinese government ’s tremendous supervision operation on the Internet industry in the past two years has not only led to China's network technology industry to be trapped in operating difficulties, but the decline in the Internet industry has also had a negative impact on the Chinese capital market and employment environment.Recently, as the Chinese government shifted its focus from epidemic prevention to the development of the economy, the official frequently released the signal of regulatory loosening to the Internet industry, and the owner smelled the goodwill direction of the policy, and has begun to accumulate energy.The bottom of the valley rose.
China Network Regulatory Campaign, which began at the end of 2020, has a wide range of rectification. From fintech, online education, games, travel, databases, etc., many network platforms are affected by varying degrees, as large as Alibaba and Meituan, etc.Anti -monopoly huge fines, the death of Ant Group's listing, Didi Chuxing was forced to be suspended from US stock markets and online game companies, and the tide of closing of online education platforms; Xiao Ru's online platform received a small fine or short -term suspensionPunishment of transportation rectification.
More than ten years before the start of the wave of rectification, the Internet industry has led to the booming development of scientific and technological research, innovation, and investment. At the same time, the popularity of e -commerce platform applications has set off an online consumption boom.The Internet is equivalent to the effort in investment and consumption, which has brought a lot of contributions to China's rapid economic growth.With China's official strengthening the supervision of Internet platforms, operators have greatly reduced their business and personnel.As far as the influence, not only the growth of the Internet industry has fallen into stagnation, but also dragging economic growth, the actions of layoffs and stopping of the industry have also worsened China's unemployment.
The fourth quarter of 2022 is an important turning point in China's Internet industry.From the perspective of macro factors, due to the influence of the zero -epidemic prevention policy and the slowdown of the global economic slowdown, China's economic growth rate fell to 0.4%in the second quarter of 2022, and it was difficult to reach the official growth target of 5%throughout the year.From the perspective of micro -factor, China's Internet is affected by regulatory tightening. Most industry players are generally sluggish in the first three quarters of 2022, becoming one of the war criminals of China's economic slowdown.Therefore, after the 20th meeting of the mainland government in October 2022, the economic replacement of the economy replacing the epidemic prevention became the main axis of the policy. The Chinese government frequently sent warm wind to the Internet industry, and the policy policy of strengthening supervision has shifted.
There are currently five positive signals in China's Internet field.The first is that the policy releases goodwill.In early December 2022, the Wall Street Journal disclosed that the Chinese government is about to end its long -term survey of Internet companies; on December 14th, the State Council announced the "expansion of domestic demand strategic planning outlines" and proposed to accelerate the cultivation of new consumption such as "Internet plus social services" and sharing economy;From December 15th to 16th, at the Central Economic Work Conference hosted by Chinese President Xi Jinping, it rarely proposed that "supporting the development of private enterprises and supporting the platform's economic growth."
Followed by Sino -US -China -China stocks audit controversy.The United States demanded that the US Securities Regulatory Unit was able to review the negotiations of the audit report of land -listed land enterprises in the United States. Finally, it made a breakthrough in the second half of 2022. The US regulators successfully went to Hong Kong for the first time in Hong Kong to review the audit report of relevant Chinese stocks for the first time in late November.With the relief of the dispute, the opportunities for continued to stay in the United States in China, mainly Internet companies, have greatly increased, and Internet companies can maintain overseas financing pipelines, and future development will become optimistic.
Furthermore, the Chinese HKMA's rectification of the fintech industry such as Ant Group is close to the end. The capital increase case of Ant Group's Ant Group's Ant Group was approved by the regulatory unit at the end of December 2022. Through the introduction of state -owned assets to reduce potential financeRisks, if you get related financial licenses, you are expected to restart the IPO in the second half of 2023.
As for the "double reduction" (double reduction "(reducing student operation burden and off -campus training burden) policies that lead to the closure of many online education platforms, there have also been signs of loosening in the near future.In the "Outline of the Strategic Planning of Domestic Food", it is mentioned that "encouraging social forces to provide diversified education services, support and standardize the development of private education, and comprehensively regulate off -school education and training", which is considered a signal of relaxation of online education platforms.In addition, the Chinese regulators restarted the game approval at the end of 2022, allowing Chinese online game operators who have been silent for a long time to see Chunyan coming.
Under the incentive of multiple positive signals, the Chinese Internet giants have recently rubbed their fists and are preparing to welcome the rebound of the industry.Among them, Zhang Yong, chairman of Alibaba's board of directors, personally took over the cloud business of the important battlefields of the network department; Tencent Ma Huateng, JD.com Liu Qiangdong, Baidu Li Yanhong, etc., hesitated to the group in the group.These actions are instead of reviewing the past two years, and they are more like an oath conference before the prosperity rebound.
If China ’s Internet boom can be successfully reversed along this wave of policies, with the huge energy of the industry and the huge market in China, it is believed that the economic recovery after the epidemic will bring great help.
