China’s Central Bank Vows to Continue Fintech Crackdown

The transcript discusses market reactions to comments from the PBOC governor and the Chinese Embassy in the UK regarding the tech crackdown. Despite expectations, Chinese tech stocks like Alibaba and Tencent surged, with the NASDAQ Golden Dragon index rising by 5.4%. The PBOC governor reaffirmed the ongoing regulatory push against big tech, emphasizing the need to address market monopolies and financial risks. The UK Embassy stated that the crackdown is beneficial for China's economic and societal growth.

What was the market's reaction to the comments from the PBOC governor and the Chinese Embassy in the UK?

• Tech stocks declined sharply.

• Tech stocks surged significantly.

• Tech stocks were unaffected.

• Tech stocks remained stable.

What was the market condition in Hong Kong after the Chinese market reopened?

• The Hang Seng index was volatile.

• The Hang Seng index remained unchanged.

• The Hang Seng index rose by 5%.

• The Hang Seng index fell by 5%.

What did the PBOC governor emphasize about the regulatory push on big tech?

• It is complete and will not continue.

• It will be relaxed in the future.

• It is ongoing and will be strengthened.

• It will focus only on small companies.

What potential risks did the PBOC governor highlight about platform companies?

• They could enhance market competition.

• They could lead to market monopolies.

• They could increase efficiency.

• They could reduce innovation.

According to the UK embassy, what is the impact of the tech crackdown on China's economy?

• It is beneficial for healthier growth.

• It is neutral with no significant impact.

• It is detrimental to economic growth.

• It is only beneficial for tech companies.