China wooing tech investments again after crackdown cost companies $1T

📆 7/31/2023 2:02 AM
📰 BusinessInsider

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China's tech crackdown cost over $1 trillion. But the economy is in such deep trouble that the country's cozying up to its tech firms again.

on Alibaba founder Jack Ma and his companies after he criticized Beijing in an October 2020 speech.

The Chinese government's opportune interest in its homegrown tech companies comes just as its economy — the world's second-largest — struggles to recover from three years of on-off COVID-19 lockdowns.

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