Chinese tech giants Alibaba, Tencent, and Meituan received praise from the National Development and Reform Commission (NDRC), highlighting a shift in Beijing’s attitude towards these firms, which were previously under heavy regulatory scrutiny. Among other things, the firms’ various investments in AI, service, and industrial robotics were highlighted. Following this news, at market close, Hong Kong shares of Alibaba went up 1.24%, Tencent’s increased by 1.86%, and Meituan’s grew by 4.34%.