SoftBank will cut its investment in Chinese start-ups until the extent of Beijing’s scrutiny of the tech sector becomes clear, its founder Masayoshi Son said on Tuesday.
Son said the Japanese investment conglomerate would take a “wait-and-see stance” until the situation settled in what he hoped would be a year or two.
“I still have very high hopes” for China, Son said, noting that SoftBank’s overall investment portfolio in China was still generating a profit.
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