considered to be one of the clearest signs that authorities are dialing back a crackdown on the tech industry that began with the sudden arrest of the world’s biggest listing almost two years ago.

The China Securities Regulatory Commission has established a team to reassess the fintech giant’s share sale plans, said one of the people, who asked not to be named discussing private information. Authorities are also nearing the final stages of issuing Ant a long-awaited license that would clear the path for an IPO and make the company regulated more like a bank, the people said.

While the timeline for the license and potential listing will hinge on approvals from senior Chinese leaders, evidence of progress on both fronts is likely to reinforce investor optimism that the worst is over for the country’s embattled private sector. Chinese tech stocks have soared in recent weeks, bolstered by a report that authorities are preparing to wrap up a probe into Didi Global Inc. (DIDI) and restore the ride-hailing company’s main apps to mobile stores.