JPMorgan Asset Management is bullish on Chinese technology stocks despite regulators cracking down on internet giants on the mainland.

Shares in major Chinese tech companies like Alibaba, JD.com and Meituan have fallen this year as Beijing tried to curb the monopoly behavior of internet giants.

Howard Wang, head of Greater China Equities at JPMorgan Asset Management, said the regulatory restriction creates uncertainty in the short term. However, in the long term, Chinese tech companies still have the potential to grow, he said.

“If we look at those basics and they stretch out over a long period of time, I think we are actually in a pretty good place to buy,” Wang told CNBC’s Street Signs Asia on Tuesday.

Wang said declines in Chinese technology stocks seem exaggerated due to regulatory risk or investors being shifted away from growth stocks. This has resulted in “pretty decent value” for some Chinese technology stocks, he added.

Without naming specific stocks, Wang said he likes big tech companies given their rundown valuation and earnings potential.

Shares in Hong Kong tech giant Alibaba fell 7.48% at the close of trading on Monday. E-commerce companies JD.com and Meituan are down around 16% and 10.8%, respectively.

From our perspective as investors, it’s really just a matter of crouching down, looking at the basics, and making sure your companies aren’t doing anything that is construed as unfair market practice …

Howard Wang

JPMorgan Asset Management, Head of Equities, Greater China

Wang said Chinese tech companies could still face a bumpy road for the next several months as regulatory action continues. But the approach so far has been “rational,” he added.

“From our perspective as investors, it’s really just crouching, looking at the basics, and making sure your companies aren’t doing anything that is construed as unfair market practice – at least not for now,” said Wang.

“I think if we put that into context … it actually looks like a decent environment to invest in these stocks. Difficult for the next few weeks, but overall these are the types of investments you want to make in China ,” he added.