Meituan shows that China Tech is not yet up to the task


Investors in Chinese tech stocks hoping to take a break from last year’s brutal crackdown find themselves dodging further curve balls instead.

Chinese food delivery giant Meituan is the latest example. Shares of the Hong Kong-listed company fell 18%, or about $32 billion in market value, in two trading days after China’s state planner suggested on Friday that online food delivery platforms should cut fees to help struggling restaurants. Meituan shares have more than halved from their peak about a year ago.


Wj

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