- Home >> Features >> Technology
Prospects dimming for China’s tech champions as great powers clash
- Tuesday | 28th July, 2020
Chinese companies with world-beating technology — including drone-maker DJI, artificial intelligence firms Megvii, SenseTime and iFlytek, surveillance camera vendor Hikvision and e-commerce conglomerate Alibaba Group — are also among those losing access to markets. But then came new US sanctions against Chinese tech firms last October, prompted in part by repression of the Muslim Uighur population in the Western province of Xinjiang. Now China’s top tech players are having contracts cancelled, products banned and investments blocked, with more restrictions on the horizon. “Global markets are big and Southeast Asia and Europe should still be open to Chinese companies,” said one Beijing-based, internet-focussed hedge fund investor. Efforts by Chinese companies to change the minds of the foreign regulators have had little effect in the absence of policy changes by Beijing.
If You Like This Story, Support NYOOOZ
Your support to NYOOOZ will help us to continue create and publish news for and from smaller cities, which also need equal voice as much as citizens living in bigger cities have through mainstream media organizations.
