Pepper robots are seen at SoftBank Robotics in Paris, France, Sept. 10, 2020. With a new feature, Pepper robot can detect whether people are wearing face masks and if not, instructs them to wear. Photo: Xinhua

Japanese tech investor SoftBank on Monday told Chinese media that it remains committed to investing in China. The comments came after SoftBank CEO Masayoshi Son reportedly said the firm will pause investment in China until the impact of new regulatory moves are clear.

Son told a news conference on Tuesday that he believes China's new regulations will create a new situation in a year or two.

Chinese firms accounted for 23 percent of SoftBank's massive Vision Fund investment portfolio at the end of July. Big names invested in by SoftBank include e-commerce platform Alibaba and ride-hailing giant Didi. Shares in the two firms have taken a dive amid Chinese regulators' anti-monopoly crackdown and tightened scrutiny on data security.  

Son said that only 11 percent of Vision Fund investment has been directed to China since April.

In the quarter ended June, the profits of Softbank dropped 40 percent year-on-year, according to media reports. 

Global Times