China says move to curb disorderly expansion of capital has shown initial results- state media
Reuters
Published Aug 30, 2021 07:41AM ET
Updated Aug 30, 2021 08:25AM ET
BEIJING (Reuters) -China's move to curb disorderly expansion of capital has shown initial results, state media quoted a top-level meeting as saying on Monday.
Since late 2020, Beijing has been advocating "the prevention of disorderly expansion of capital", kicking off a clampdown on tech giants and private education firms.
The campaign has been focused on preventing "savage growth" of some platform companies in a bid to deal with their monopolistic and unfair competition behaviors, state media said.
"Initial results have been achieved in preventing disorderly expansion of capital, and the fair market competition order has been steadily improving," state media quoted the meeting on deepening reforms, chaired by President Xi Jinping, as saying.
China will pay equal attention to supervision of companies and their development, guiding firms to support the country's overall economic and social development, stte media quoted the meeting as saying.
China will improve its market access system and fair competition supervision system for the digital economy, it said.
China will improve management of state reserve systems and build a unified strategic and emergency material reserve system, state media added.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.