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Softbank’s China Investment on hold for now
Tech

Softbank’s China Investment on hold for now

SoftBank Group Corp will pause investing in China as it waits for regulatory action against the country’s tech firms to play out. This is what Chief Executive Masayoshi Son said on Tuesday. “Until the situation is clearer we want to wait and see,” Son told a news conference. “In a year or two I believe new rules will create a new situation.” Several valuations including Didi listed in New York have been hammered by Regulatory Pressure. At the moment SoftBank’s Investments in China make up about a quarter of its funds’ portfolio. Their biggest holding is Alibaba. While the crackdown has affected returns expectations, “our broader thesis in China is unchanged: It’s still a large, growing and compelling economic opportunity,” said Navneet Govil, the chief financial officer of Vis...