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China’s private sector contributes the lion’s share of its GDP and tax revenue, but it’s feeling the economic strain, while central state-owned enterprises report “best profitability growth in history”.
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
Recent events suggest that Beijing is once more preparing to rein in its private sector
Alibaba, Tencent, Meituan have lost $110 billion in market value due to selloffs sparked by rumors.
(Bloomberg) -- From Alibaba to Tencent, China’s largest companies are once again at the center of a market storm, spurred by speculation that Beijing is readying another assault on the world’s biggest internet arena. Three of China’s most valuable businesses -- Alibaba Group Holding Ltd.