(SCMP) Chinese regulators will reportedly meet with the company’s Big Tech firms after the Labor Day holiday to discuss how the platforms can play a bigger role in the economy.
The talks are expected to set a relaxed tone on big tech, including a reassurance to the business executives that the state will not impose fines and crackdowns which have been hitting the sector.
Big Tech firms such as Alibaba, Tencent, Meituan, and Tiktok owner ByteDance, are among those invited to the symposium.
Reports indicate that a joint regulatory meeting between the firms and the regulators could occur as soon as this week to deliberate on Beijing’s decision.
The move happens when China is seeking to avert economic slowdowns brought about by Covid-19 controls. China seeks more roles for the tech firms in the economy, including the distribution of consumption vouchers.
China’s President Xi Jinping is said to have agreed, during the Politburo meeting on Friday, to enhance a “healthy development” of the country’s internet platforms. The government will also design measures to support the industry.
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