The Chinese stock market has seen a difficult two years. Starting with harsh regulatory crackdowns in late 2020 and followed by strict COVID-19 lockdowns that saw entire cities grind to a standstill, the result was billions of dollars wiped off the books of China’s tech giants and once-promising enterprises.
These are positive changes — and certainly much needed — and make for good reasons to be optimistic about the reopening of the world’s second-largest economy. However, it’s not all smooth sailing ahead. The country is still struggling with abruptly reversing its notorious zero-COVID policy, with consumption remaining depressed.
That was just the beginning. Chinese regulators went on to levy wide-sweeping antitrust allegations that saw the leaders of China’s tech sector subject to investigations and multi-million dollar fines.