don’t fight beijing that was the investment mantra behind the brutal longrunning selloff in chinese technology stocks that began in late 2020 that is also why they have rebounded so strongly in the past couple of weeks a marked change for the better in the tone from top chinese policy makers longer term some key uncertainties are still hanging over the market namely whether a return to the heady growth and cashgeneration of the precrackdown days is really possible based on the evidence so far the answer still seems likely to be no