Pinduoduo Inc (NASDAQ:PDD) shares are trading higher Friday after a Chinese state media report indicated the Chinese government may end its regulatory crackdown on big tech firms.
According to a South China Morning Post report, citing two sources briefed on the situation, the Chinese government is set to hold a symposium with the country's big tech companies. The scheduled meeting has increased optimism that restrictions on big tech firms could be eased and internet platforms could take on larger roles in China.
