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The Communist Party under Xi expects its members to be more ‘red’ than ‘capitalist’ and adhere to its vision of how the economy should operate

Alibaba, which holds a 33% stake in Ant, said any repurchased shares will be transferred into the fintech company’s employee incentive plan.

Ant explores ways for Jack Ma to exit Reuters | Updated on × Ma's stake, worth billions of dollars, could be sold to existing investors in Ant or Alibaba Group Hong Kong, April 19 Ant Group is exploring options for founder Jack Ma to divest his stake in the financial technology giant and give up control, as meetings with Chinese regulators signalled to the company that the move could help draw a line under Beijing's scrutiny of its business, accordingto a source familiar with regulators' thinking and two people with close ties to the company. Reuters is for the first time reporting details...

Alibaba relieved as regulatory storm ends with record fine Alibaba CEO Jack Ma waved a red flag in the face of Chinese President Xi Jinping when he compared the nations financial markets to pawn shops, in a presentation ahead of the planned Initial Public Offering of Ant. In November regulators blocked the listing which would have been worth over  $34bn according to The Wall Street Journal. The clash was part of a long-running battle between Ma and local regulators. It triggered intense scrutiny of online tech companies and e-commerce platforms, which previously enjoyed relative freedom in t...

The rush of capital into Hong Kong explains why the city’s stock market is riding a 20-month high, even as the local economy remains mired in its worst recession amid worsening unemployment and a resurgence in Covid-19 cases.