Big Take

Xi Has Embraced China’s Tech Titans Once Again. Will It Last?

17 snips
Feb 26, 2025
Lucille Liu, a Bloomberg reporter based in Beijing, discusses the dramatic shift in China's relationship with tech giants. After years of regulatory crackdowns, President Xi Jinping's recent meetings with leaders like Jack Ma signal a potential reconciliation. They explore how this newfound support might revive the tech sector and discuss the resilience of companies like Huawei amid ongoing challenges. Additionally, Liu addresses the complexities of navigating U.S.-China tech relations and the impact of government scrutiny on innovation.
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ANECDOTE

Robot Debut

  • During the 2024 Lunar New Year gala, humanoid robots made by Unitree Robotics performed.
  • This showcased the government's warming attitude towards tech giants after a period of sidelining.
ANECDOTE

Ant Group IPO Halt

  • In 2020, Beijing halted Ant Group's IPO, which would have been the biggest ever.
  • This followed Jack Ma's criticism of regulators, marking the start of a tech crackdown.
INSIGHT

Reasons for Crackdown

  • The tech crackdown aimed to curb the excessive power and influence of tech companies.
  • These companies were perceived as a threat to political and financial stability.
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