Masa Son Cancels Future Performances In China
Masayoshi Son is a bold, daring man, unafraid to take big, seemingly reckless risks no matter how often he’s been burned by them. It is the SoftBank chief’s nature, and he cannot resist the urge for long—and his favorite place to scratch that itch is China’s tech industry.
That said, given everything that’s going on, particularly with two of SoftBank’s biggest holdings, Son isn’t touching anything Chinese with a pole as wide as the East China Sea for a while.
Although China is still going to be a hub of technology and artificial-intelligence innovation, “in terms of investing, we’re seeing a lot of new regulations coming out,” Mr. Son said. “I want to wait a bit longer to see what kinds of regulations there are, how far they extend, and what impact they have on the markets.”
Seems wise, as does this commissar-pleasing investment approach.
While China’s new regulations have taken aim at sectors including financial-technology, online services and private tutoring, Beijing continues to support industries such as advanced manufacturing and renewable energy. They said domestic brands that cater to China’s populace, as well as innovative drug and biotechnology companies, could also benefit from policy support…. Some market participants believe China is trying to direct capital and human resources away from internet companies into sectors that will help the country become more self-reliant….
SoftBank to Hold Off on New Investments in China Amid Tech Crackdown [WSJ]
China’s Corporate Intervention Drives Investors to Industries Beijing Supports [WSJ]
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