Chinese regulators announced measures to crack down on Jack Ma's Alibaba and Ant Group on Thursday.
Beijing will investigate e-commerce site Alibaba, co-founded by Ma, over alleged anti-monopolistic practices, and urge fintech Ant Group to implement stricter financial regulations, regulators said. Ant Group's IPO, which would have been the world's biggest-ever, was halted in November after China introduced stricter regulations for financial services.China is cracking down on Jack Ma's ever-growing tech empire.
Chinese regulators said Thursday they had launched an anti-monopoly investigation into Alibaba, the nation's biggest tech company, and separately, other watchdogs said they would hold talks with Alibaba's affiliate fintech company Ant Group. It's yet another sign of the nation's increased scrutiny of tech giants.
This is really good measure by govt .. when all other countries coddling their billionaire... china govt taking steps to keep them in control.
When the politicians are done with u.
Just a twitch 😀
Wonder if Chinese ppl LOL, as 🌏 does, when they think of charade thts Chinese Communist Party’s utter & total authoritarian dictatorship control. Actually, I wonder if ppl in China are even allowed to think all or if their Orwellian society has stripped tht privilege already🧐
The CCP eat their own.
A tad late but whatever..
Chinese state is dangerous for everyone.
The beginning of the End ‘“
변신을 승인한다. 디셉티콘.
i sold off late yesterday right before close just to get some cash on hand. dodged a bullet
Damn 😳
Riding the dragon - it's difficult to stay, it's difficult to step down😝
thanks for this news