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Shares of Chinese technology companies stage a rally in Hong Kong, sending the Hang Seng Tech Index surging more than 3%. Bilibili is surging more than 6%, Kuaishou up nearly 6%, Meituan up nearly 4%, JD.com up 3.5%, Tencent and Baidu up 2.8%, Alibaba up 2.4%.
The rally came after Chinese Premier Li Qiang on Wednesday presided a symposium with platform companies including Alibaba Cloud, Meituan, Pinduoduo, JD.com, etc, to have discussions about promoting healthy and sustained development of the platform economy.
Li praised platform companies for their role in expanding demand and creating employment and called for more efforts to address the companies’ difficulties and promote healthy and sustained development of the platform economy. Read more …
In addition, Chinese government departments, including the National Development and Reform Commission (NDRC), the top economic planner, recently conducted in-depth study into the development of platform companies and sorted out several typical investment cases. The NDRC vowed to support platform companies to play a more active role in leading development, creating employment and international competition. Read more …
