JD has been hit by a slowing economy and flagging consumer spending this year.
The chief executive of JD.com’s retail business, Xin Lijun, says regulation of China’s tech sector is not loosening, but becoming more “stable” and “rational,” according to CNBC.
Most countries liked to encourage innovation and only regulated sectors develop to a certain level, the report said, and China’s tech or internet sector was going through that process, but “I wouldn’t say regulation [is] loosening, I’d say regulation is conducted in a more rational way,” Xin Lijun was quoted as saying, adding that he was optimistic about the Chinese economy in the second half of 2022.
Read the full report: CNBC.
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