Chinese regulators are reportedly planning to suspend their campaign against the tech giants as the country’s economic growth slows, according to the Wall Street Journal.

The WSJ reports that China’s top internet watchdog is slated to hold talks with the country’s technology companies to discuss the regulations, which could indicate that the government has acknowledged that its strict regulations have weighed on the private sector amid a gloomy economic outlook.

The report saw shares of Chinese-listed companies rise on the news. Alibaba Stock price at (NYSE:), up more than 12%. Bilibili (NASDAQ) gained 15.7%. Pinduoduo The green price of (NASDAQ:) trades at 15.9%.

Officials have decided to delay the implementation of new regulations that would limit how long young people can spend on mobile apps. The report stated that some tech titans could be required to sell 1% of their equity shares to the state in order to allow the government influence over corporate decisions.

Beijing already took similar measures in China to manage internet corporations, including TikTok’s owner ByteDance (NASDAQ:)). The government is now considering expanding these measures to include other tech companies such as Tencent and Meituan.

The possibility of relaxed regulations at the meeting will highlight the importance of economic stability for China during a time of slowdown in growth.

Pausing the regulatory campaign and showing support for the country’s tech giants could help prop up China’s economy after many have predicted slower growth this year due to the spread of the Omicron variant, which has resulted in lockdowns.

At Friday’s Politburo meeting, Xi Jinping, the Chinese leader, and representatives of the Communist Party said that they will continue to crackdown on internet companies within the country. However, they didn’t give a specific timeline.

By Senad Karaahmetovic