There are a few methods used to reduced stringing like this. The most common and important one is retraction. When printing, the molten filament in the nozzle and hotend is under a fair bit of pressure (e.g., you'll often find extruder systems mention how much force they can apply - often quite a lot). Retraction reverses the filament movement when the print move finishes, releasing the pressure and reducing oozing and stringing.

A few notes. Too large a retraction setting can drag molten plastic into the heatbreak, resulting in a clog.
More advanced techniques of dealing with pressure at the nozzle include linear advance (Marlin) or pressure advance (Klipper). Both of these offer a more advanced pressure control than just retraction and can under some circumstances remove the need for retraction altogether.
Setting retraction on bowden systems can be challenging, as there can be a bit of slop between the extruder and hotend (especially with longer bowden tubes).
Make sure when setting restraction that everything in the system is well secured. Particularly the ends of the bowden tube, and any other PTFE tubes between extruder and hotend.