In a rare public display of support for the private sector, Vice Premier Liu He said Tuesday that the government would “properly manage” the relationship between the government and the market, and back tech companies to list in both domestic and foreign markets. Liu is a top economic adviser to President Xi Jinping.He was speaking at a symposium with other officials and Chinese tech executives, including Robin Li, the CEO of internet search giant Baidu (BIDU), William Ding, CEO of gaming and content company NetEase (NTES), and Zhou Hongyi, CEO of internet security firm Qihoo 360 Technologies.
Chinese stocks on Wall Street surged after Liu’s comments, but mostly declined Wednesday in Hong Kong. This suggests that the market is still deeply concerned about the growth prospects of China’s big internet companies, and is looking for more specific commitments from the government.
Those concerns were reinforced Wednesday when Tencent (TCEHY)…
