WHEN AMERICA slammed sanctions on Huawei, barring American firms from supplying the Chinese telecoms-equipment titan on national-security grounds, China’s state media predicted that the restrictions would spur innovation in the local technology industry. In time, they may well do. But for now, much of the innovating is taking place within the Chinese state as it experiments with a new system of control over Chinese business.
The measures are part of a broader trend, as the Communist regime led by Xi Jinping adopts an increasingly muscular stance towards the private sector. In November it halted the $37bn initial public offering of Ant Group, the payments affiliate of Alibaba, China’s biggest e-commerce empire, two days before the firm was due to debut in Shanghai and Hong Kong.
The blowback could yet destabilise Alibaba in unexpected ways. Like many mainland tech firms, it uses an offshore legal structure that allows foreigners to invest in Chinese assets that would otherwise be off limits. The arrangement has been tolerated by regulators, without being fully endorsed by them, for two decades. But last month SAMR fined Alibaba and Tencent, another internet behemoth, for not seeking approvals for past acquisitions.
The new policy will pay more attention to the distribution of benefits. This is the lesson we learned from what happened in the United States.
I don’t understand this system or culture but I love the people….ifff they are not currently on the government clock lol
CCP never disappoints the world haha
Twitter,Facebook and Amazon shows the US who rules their country.
So where is Microsoft retired CEO
Exactly what democrats are calling for with republicans. China, Biden’s, communists, fake calls to save American democracy....it’s all the same.
Jack Ma what?
Ask to Chinese government!
F
did president for life Xi see him as a threat?
The Gulag
You really love to suggest that China is similar to 1984 don’t you. If you were Jack Ma, being criticized by the society for high loan interest, high financial leverage and monopoly, will you keep showing up in public like ever before?
This is not only the case in CHINA , if you go against the state ?
I believe a otter word for that is 'authoritarian'
and suddenly those 'Jack Ma's advice/ wise words' are disappeared from those Wall Street craps.
Was also Hitler 'muscular' to the Jews?
He is either in some black jail in China or some secret home out of China.
New face, voice and identity? He has the $ to do that?
Homie was made an honorary Uighur.
Muscular? Are you daft?
Just like Trump, he is being block by big brother.