ByteDance valuation soars despite China tech woes – Nikkei Asia

ByteDance, the parent of TikTok and Chinese sister app Douyin, posted the second-highest gains of the Hurun Global 500, with its valuation rising 168% to $280 billion. © Reuters CK TAN, Nikkei staff writer August 20, 2021 11:00 JST | China Copy Copied SHANGHAI — Valuations for ByteDance and Huawei Technologies have held up or even risen this year while the shares of many listed Chinese technology companies have tumbled amid Beijing’s widening crackdown on the sector, according to a new ranking of the world’s largest private sector companies. The Hurun Research Institute in Shanghai said valuations for the world’s…