Tuesday, September 28

China Stocks

China regulation, China regulators, China Stock Market, China Stocks, Chinese Stock market, Chinese Stocks, Markets, Masayoshi Son, MI Exclusive, Softbank, Softbank Vision Fund

SoftBank will cut investments in Chinese startups as it awaits more regulatory clarity

Alessandro Di Ciommo/NurPhoto via Getty Images SoftBank Group will cut investments in Chinese startups pending further regulatory clarity, company founder Masayoshi Son on Tuesday."Until the situation is clearer we want to wait and see," Son said at a news conference, as reported by Reuters. "In a year or two, I believe new rules will create a new situation."Chinese startups currently up around 23% of its Vision Fund's portfolio, SoftBank's tech-focused venture capital fund that was founded in 2017. But since April, only 11% of new investments have been directed into China, reflecting the firm's decision to pare back.Still, SoftBank is quite exposed to China at large. Alibaba, the online shopping behemoth, comprises 39% of its asset value, according to the Financial Times. Son di...
China Crackdown, China education stocks, China education tech sector, China regulators, China Stocks, China tutoring stocks, Didi cybersecurity review, Didi stock price, Markets, MI Exclusive

Chinese education stocks plunge as Beijing reportedly wants to turn tutoring companies into non-profits

Primary school students attend a class in Beijing. Cui Jun/Beijing Youth Daily/VCG via Getty Images Shares of Chinese tutoring companies crashing Friday after Bloomberg reported that Beijing is targeting the sector. China is considering asking education tech companies in the $100 billion sector to turn into non-profits. Shares of Tal Education Group and Gaotu Education were among those being hammered in the US market. See more stories on Insider's business page. Shares of Chinese education companies sank Friday, losing more than half their value following a Bloomberg report that China may ask companies that offer school curriculum tutoring to become non-profits, a move that could severely damage the country's $100 billion education technology industry. Beijing is considering r...