China vows ‘more substantial progress’ in tackling tech turmoil by year’s end

Chinese authorities say progress is being made in their efforts to clean up the financial irregularities created by privately run tech giants and other industrial capitalists, while doubling down on vows to ensure that funding is available to struggling private businesses amid rising costs and a broad economic slowdown.Guo Shuqing, party chief of the People’s Bank of China, pointed to promising “initial results” in the ongoing clampdown on tech giants, in an interview that Communist Party…