Timeline: China takes steps to ease up on regulatory crackdown as economy slows

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21/07/2022 09:21

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    July 21 (Reuters) - Chinese authorities imposed a $1.2
billion fine on ride-hailing firm Didi Global Inc, a move that
signalled an end to a year-long probe into the ride-hailing
firm's cybersecurity practices.  urn:newsml:reuters.com:*:nB9N2XF02H
    Here is a timeline of key events underscoring the easing of
China's regulatory crackdown since the beginning of this year:
    
    Feb. 10: China's cyberspace watchdog said it had held a
symposium with domestic technology giants in January which had
given the industry a "clearer understanding" of how to pursue
development and confidence amid a new regulatory landscape.
 urn:newsml:reuters.com:*:nL8N2UL0DJ
 
    March 16: Vice-Premier Liu He, China's economic tsar, urged
the introduction of market-friendly policies to support the
economy and expressed caution about measures that risked hurting
markets. The comments boosted battered shares in China and Hong
Kong.  urn:newsml:reuters.com:*:nL2N2VJ0Y6
    
    April 11: China's gaming regulator granted publishing
licences for 45 games from developers including Baidu Inc
 9888.HK  and XD Inc  2400.HK , ending a nine-month freeze. 
    
    April 29: China's powerful Politburo, in a meeting chaired
by President Xi Jinping, said it will step up policy support for
the economy, including its so-called platform economy -
referring to internet platforms such as online marketplaces.
 urn:newsml:reuters.com:*:nL2N2WR0UQ
    
    May 15: Chinese financial authorities allowed a further cut
in mortgage loan interest rates for some home buyers, in another
push to prop up its property market and revive a flagging engine
of the world's second-largest economy.  urn:newsml:reuters.com:*:nL2N2X70LX
    
    May 16: Authorities asked three financially healthy major
private Chinese property developers to issue bonds to help boost
market sentiment, two people with direct knowledge of the matter
told Reuters.  urn:newsml:reuters.com:*:nL2N2X809G
    
    May 24: Financial regulators pledged to keep credit growth
stable in the property sector and help home buyers affected by
COVID-19 outbreaks to defer mortgage payments, the central bank
said in a statement.  urn:newsml:reuters.com:*:nB9N2X101L
    
    May 17: Vice-Premier Liu told a meeting convened by China's
top political consultative body that the government supported
the development of the technology sector and public listings for
such companies. Tech executives who attended the meeting
included founders of search engine company Baidu and mobile
security software maker 360 Security Technology Inc  601360.SS ,
known as Qihoo 360.  urn:newsml:reuters.com:*:nL2N2X903A
    
    June 7: China's gaming regulator granted publishing licences
for 60 games.  urn:newsml:reuters.com:*:nL1N2XU0UZ
    
    June 8: Reuters reported, citing sources, that Didi is in
talks with state-backed Sinomach Automobile Co Ltd  600335.SS 
to buy a third of its electric vehicle unit, signalling the
ride-hailer's regulatory troubles are in the rear view mirror as
it focuses on growth.  urn:newsml:reuters.com:*:nL8N2XU1XR
    
    June 9: The government gave tentative approval for Ant
Group, an affiliate of e-commerce behemoth Alibaba, to revive
its initial public offering in Shanghai and Hong Kong, two
people told Reuters, the biggest sign yet of a cooling of
Beijing's tough stance on the technology sector.  urn:newsml:reuters.com:*:nL1N2XW160
    
     June 29: China allowed apps belonging to online recruitment
services company Kanzhun Ltd 
 (Reporting by Selena Li in Hong Kong; editing by Christopher
Cushing and Jason Neely)
 ((Selena.Li@thomsonreuters.com; +852 39525868;))