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The CCP's Next Target: Chinese Financial Firms

News Analysis Xi Jinping’s investigation of financial institutions in China, and their alleged chumminess with the largest private . ....

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Why Is Alibaba 'Full of Gratitude' for Record $2.8 Billion Fine Imposed by Beijing?

Why Is Alibaba ‘Full of Gratitude’ for Record $2.8 Billion Fine Imposed by Beijing?
Commentary
China’s Alibaba Group found itself under the spotlight following a record antitrust fine slapped on the tech giant, yet it openly expressed its gratitude to the Chinese regime.
On April 10, the world’s biggest e-commerce company was fined 18.2 billion yuan ($2.8 billion) by Chinese regulators for anti-competitive tactics, as the ruling Chinese Communist Party (CCP) tightens control over fast-growing tech industries in the mainland. But Alibaba quickly responded and said in an open letter that it is “full of gratitude and respect,” as it would not have achieved its growth without sound government regulation and critical support. ....

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