“Chinese Tech Stocks Are Tumbling Again…”
September 9, 2021
“It’s happened again. Chinese tech stocks are getting hammered after Beijing summoned a number of gaming companies, including Tencent and NetEase, over new rules on the sector.
The companies were told to put an end to the “solitary focus of pursuing profit” and understand the importance of preventing online gaming addiction among children, the state-run Xinhua News Agency reported. Last month regulators moved to limit videogame playing time to just three hours a week for under 18s.
It didn’t stop there. China has temporarily suspended approval of all new online games, the South China Morning Post reported. Separately, the Transport Ministry reiterated its crackdown on the ride-hailing industry…”
https://www.barrons.com/articles/things-to-know-today-51631180812?siteid=yhoof2
If you’re invested in China don’t think your investments are safe. They are subject to the whims of the CCP. Also China’s economy isn’t as good as they proclaim it to be. It’s actually in worse shape than the U.S. If you’re one of those people trying to invest outside the U.S. dollar china is not the place. It’s like jumping out of the oven and into the frying pan.