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Beijing’s tech crackdown: Is it a good time to buy?
Join SupChina as we take a look at what is happening to China's markets via Beijing's recent crackdowns and discuss the potential losses or opportunities this point in history may provide.
Since the suspension of Ant Group’s IPO in November, Beijing has embarked on an unprecedented clampdown of its technology sector. The casualties include some of China’s leading tech companies, such as Tencent (internet conglomerate), Meituan (food delivery), Pinduoduo (ecommerce), Didi (ride-hailing app), Full Truck Alliance (freight logistics app), Kanzhun (recruitment), online private tutoring companies like New Oriental Education and TAL Education, and a crackdown on cryptocurrencies.
On the surface, China’s “tech crackdown” is exactly that: a clash between government power — wielded by the Chinese Communist Party (CCP) — and what many call the “tech sector.” The reality is more complicated. Though there may be some method to the madness, the agencies involved are diverse, the sectors targeted are wide-ranging, and so, too, are the justifications. This event is designed to create a real-time dialogue with experts currently in the field and give attendees a better understanding of what they should be expecting from the fallout of Beijing’s recent crackdown.
To learn more about what is going on before the event, please see SupChina’s recently published guide:
China’s ‘Big Tech crackdown’: A guide
Wendy is the Sector Head of Asia at Kingdon Capital Management. Her expertise is focused on fundamental long/short equity investing with a focus on Asian stocks ( Greater China, Japan, Korea) as well as global stocks with meaningful Asia exposure. She has over 8 years of experience in the Technology, Consumer, and High-End Manufacturing sectors and she is responsible for Asia book's day-to-day idea generation and portfolio management. Wendy previously worked for J.P Morgan and Morgan Stanley in Singapore and is a graduate of Harvard Business School and Fudan University.
Mr. Wang is CIO of Puissance Capital and brings with him 18 years of global equities trading and investing experience. Mr. Wang was a Partner of Goldman, Sachs & Co and during his 18-year tenure at the firm he held many leadership positions, most recently as Co-Head of US Equities Trading and Global Co-Head of One Delta Trading and a member of the Goldman Sachs Risk Committee. At his retirement, he was the most senior Chinese partner at the firm and was deeply involved in the firm’s strategy in China, where he developed extensive relationships with government officials, regulators, corporate and investing clients.
Bob Guterma is SupChina’s Chief Operating Officer. He lived in China for eight years, during which time he worked as an M&A-focused management consultant before joining a venture-backed Chinese information services startup serving institutional investors from China and around the world. Since then he has held partner-level positions with digital agencies and management consulting firms, in addition to having co-founded a number of startups in the U.S. and Germany.