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China plans forum with private sector firms to boost digital space – Bloomberg News – Metro US

China plans forum with private sector firms to boost digital space – Bloomberg News

FILE PHOTO: Illustration photo of a computer network cable above
FILE PHOTO: Illustration photo of a computer network cable above a Chinese flag

(Reuters) – China’s political advisory body plans to host a forum next week with some private sector firms including Baidu Inc, Bloomberg News reported on Thursday, as investors await any hints of Beijing reducing its clampdown on the tech industry.

President Xi Jinping’s top economic aide, Vice Premier Liu He, may also attend the conference which will be hosted by the Chinese People’s Political Consultative Conference, the report added.

Other attendees include officials from government agencies such as the Cyberspace Administration of China and business executives including Baidu founder Robin Li, the report said citing people familiar with the matter.

The State Council Information Office and Baidu did not immediately respond to a request for comment.

China’s technology sector is smarting from a year-long regulatory crackdown, which has upended once-common industry practices and wiped millions of dollars off share prices.

(Reporting by Sneha Bhowmik in Bengaluru; Editing by Kim Coghill)

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