Chinese billionaire Jack Ma suspected missing | bbl 2021 cricket score
Chinese billionaire Jack Ma suspected missing | bbl 2021 cricket score
January 4, 2021 Authorbaji55
Alibaba Group founder, Jack Ma, is accused of missing after his mysterious disappearance from
the public eye for more than two months after Beijing's brutal crackdown on its business empire.
The third richest man in the world was expected to appear as a star judge in the final season of Africa's Business Heroes, a reality TV show produced by his philanthropy. He dropped out of the show, however, and the broadcast was postponed, said Hollywood Reporter.
Formerly known for his government ties and unusual outspokenness, Jack Ma's trouble with the Chinese government started when he made a speech condemning China's regulators and state-owned banks for their 'backwardness.'
His remarks are said to have angered Beijing's party brass, prompting Chinese President Xi Jinping personally to avoid offering Alibaba's financial affiliate, Ant Financial, which is expected to collect USD 34 billion in the largest stock market debut in history, Hollywood Reporter said.
At the beginning of November, Beijing cancelled Ant Financial's IPO. At the end of December, Chinese regulators announced that they would initiate an antitrust investigation into Alibaba's e-commerce company and introduce new regulations curtail Ant's business activities. These new enforcements led to a fall in Alibaba's shareholdings and Jack Ma's income.
According to the New York Times article, Jack Ma publicly punished financial regulators for being obsessed with mitigating risk and accused China's banks of acting like 'pawnshops' by lending only to those who could provide collateral.
Jack Ma's public image has also changed significantly since his comments, with people calling him 'villain,' 'bloodsucking demon' and more.
The report reported that the Chinese Communist Party (CCP) seems more than willing to tap into the wealthy's long-running resentment, which could lead to problems for Chinese entrepreneurs and private businesses under Xi Jinping.
Lately, China has stepped up efforts to curb the impact of major tech firms like Alibaba and Tencent.
In November, China issued draft regulations to prevent these companies from colluding to exchange confidential customer data, enter into agreements to block smaller rivals and participate in other anti-competitive behaviour, the Wall Street Journal reported.
The Politburo meeting of the CCP, chaired by Xi at the beginning of December, vowed to improve anti-monopoly efforts next year and "prevent the disorderly expansion of capital" a message seen as a significant crackdown on Internet giants. Jack Ma is said to be the primary goal of these new policies.
According to some well-known Chinese officials and government advisors, the Wall Street Journal also confirmed that Beijing is trying to shrink Jack Ma's technology and financial empire, while regulators are zero in the billionaire's effort to strengthen control of an increasingly dominant tech domain.
The third richest man in the world was expected to appear as a star judge in the final season of Africa's Business Heroes, a reality TV show produced by his philanthropy. He dropped out of the show, however, and the broadcast was postponed, said Hollywood Reporter.
Formerly known for his government ties and unusual outspokenness, Jack Ma's trouble with the Chinese government started when he made a speech condemning China's regulators and state-owned banks for their 'backwardness.'
His remarks are said to have angered Beijing's party brass, prompting Chinese President Xi Jinping personally to avoid offering Alibaba's financial affiliate, Ant Financial, which is expected to collect USD 34 billion in the largest stock market debut in history, Hollywood Reporter said.
At the beginning of November, Beijing cancelled Ant Financial's IPO. At the end of December, Chinese regulators announced that they would initiate an antitrust investigation into Alibaba's e-commerce company and introduce new regulations curtail Ant's business activities. These new enforcements led to a fall in Alibaba's shareholdings and Jack Ma's income.
According to the New York Times article, Jack Ma publicly punished financial regulators for being obsessed with mitigating risk and accused China's banks of acting like 'pawnshops' by lending only to those who could provide collateral.
Jack Ma's public image has also changed significantly since his comments, with people calling him 'villain,' 'bloodsucking demon' and more.
The report reported that the Chinese Communist Party (CCP) seems more than willing to tap into the wealthy's long-running resentment, which could lead to problems for Chinese entrepreneurs and private businesses under Xi Jinping.
Lately, China has stepped up efforts to curb the impact of major tech firms like Alibaba and Tencent.
In November, China issued draft regulations to prevent these companies from colluding to exchange confidential customer data, enter into agreements to block smaller rivals and participate in other anti-competitive behaviour, the Wall Street Journal reported.
The Politburo meeting of the CCP, chaired by Xi at the beginning of December, vowed to improve anti-monopoly efforts next year and "prevent the disorderly expansion of capital" a message seen as a significant crackdown on Internet giants. Jack Ma is said to be the primary goal of these new policies.
According to some well-known Chinese officials and government advisors, the Wall Street Journal also confirmed that Beijing is trying to shrink Jack Ma's technology and financial empire, while regulators are zero in the billionaire's effort to strengthen control of an increasingly dominant tech domain.