Beijing is seeking to shrink Jack Ma’s technology and financial empire and potentially take a larger stake in his businesses, according to Chinese officials and government advisers familiar with the matter, as regulators zero in on the billionaire in a campaign to strengthen oversight of an increasingly influential tech sphere.
Under a restructuring road map that China’s financial regulators laid out this week, financial technology giant Ant Group Co. wouldakin to PayPal Holdings Inc., while its more profitable investment and loan businesses would be curtailed. The regulators, led by the central bank, also ordered Ant to form a separate financial holding company that would be subject to the kind of capital requirements applied to banks. That could open a door for big state banks or other types of government-controlled entities to buy into the firm to help beef up its capital base, the officials and advisers say.
China’s national pension fund, China Development Bank and China International Capital Corp. , the country’s top state-owned investment bank, are already investors in Ant. Mr. Ma, China’s richest person, has helped define China’s new economy with the two companies he founded—Ant and its e-commerce affiliate Alibaba Group Holding Ltd. Their businesses span payment services, online retail, cloud computing, wealth management and lending. Separately,
I support Xi Jinping in this decision.
Jack Ma you just listen, stay safe allow this guys to be dreaming, ploting their way to lay their hands on your hard work companies and wealth.
This was a well known fact in Asia since 2019 if you followed Asian news outlets. It is sad the western world is only now realizing it.
c'mon jack, defect already while you can.
Communist China, is about Control.
And at the same time, people are told to not move their money out. What's the motivation to keep it in? The rule of law/corruption is clearly flexible one way.
This is fake haha
Biden Inc. exposed on live Ukrainian press conference. Part 2
Good.
Biden Inc. exposed on live Ukrainian press conference. Part 1
the communist government of China are ours biggest tread and we have to say it ours ennemis, ppl of China stand up and fight to broke yours chains