Source: Bloomberg
There are many reasons worthy of celebration recently.
The distribution of the game version number has resumed (it is vital to Tencent and NetEase). Didi's online car ride service returned to the app store, and the strictest epidemic prevention measures have also been abandoned.The Hang Seng Technology Index has risen by nearly 50%since the end of October.On Monday, President Xi Jinping emphasized the importance of private enterprises to the Chinese economy.
Although we no longer hear the news of Beijing's supervision and rectification every day, the sequelae are still lingering.Bao Fan recently lost contact is the embodiment of related risks.The high -profile technology industry "rainman" has participated in the creation of Didi and Meituan today.
Technology entrepreneurs and investors that communicate with us said that the problem is now how credible is optimistic and bud.
No one knows how long the attitude of Chinese leadership on technology and private enterprises will last.Maybe this is just a random response to stabilize the economy.When the Chinese economy was inserted again into the wings, can the high -growth startups still have a foothold, or will the regulatory agency resent the "capital disorder expansion"?
As Kenneth Lai, an investor and founder in Hong Kong, said, "Rome was not built in a day, and confidence could not be expressed overnight."
Many entrepreneurs have doubts.One -third of the LAI investment portfolio is actively planning to move business focus to markets outside China.They still believe that there is a threat of a sudden 180 -degree turn.
Xiao Rui, co -founder of Xuejia Snowplus, headquarters headquarters in Shenzhen, also set his sights on overseas.New regulations such as non -tobacco -flavored seasoning electronic cigarettes have forced the company to close all 400 stores in China.He is now optimistic that Southeast Asia, Russia, and Canada's regulatory opportunities are more loose market growth opportunities.
Going abroad is not risk -the continuous tension between Beijing and Washington may force some companies to make unfortunate choices.There is a danger of being sanctioned in the United States, and TIKTOK is no longer clear about it.Besides, if the Chinese economy really rebounds, who really wants to be outside?
Zhang Huyue, an expert on regulatory issues of the University of Hong Kong, said that mainland technology companies will still face uncertainty."Investor's confidence has been severely eroded in the past few years," she said. "The hammer of supervision may move again."
Looking at overseas technology companies will have to avoid geopolitical risks, and staying in China must carefully avoid changing regulatory red lines.Both methods are good, but don't expect to sail smoothly.
