Premier urges Chinese tech giants to support economy as crackdown ends

News Snapshot:

BEIJING, July 12 (Reuters) - China on Wednesday sent another strong signal that a years-long crackdown on its tech industry is over as Premier Li Qiang met firms such as Alibaba's cloud unit (9988.HK) and Meituan (3690.HK), and urged them to do more to support the economy. After listening to suggestions from firms that also included PDD Holdings' (PDD.O) Pinduoduo and JD.com (9618.HK), Li told them authorities would seek to make regulation of platform firms more transparent and predictable. Shares in some U.S.-listed Chinese firms rallied in premarket trade, with Alibaba Group Holding gaining 2.2% and PDD Holdings rising 2.7%....