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China’s Regulators Warn 13 Chinese Internet Firms Amidst Internal Power Struggle  Among other issues, supervision of the shareholding structure and capital was reportedly emphasized in the interviews. Four Chinese financial regulators, including the People’s Bank of China, China Banking Regulatory Commission, China Securities Regulatory Commission, and the State Administration of Foreign Exchange, jointly interviewed representatives of the financial platform companies on April 29. The interviewed giants are Tencent, Du Xiaoman Financial, JD.com, ByteDance, Meituan Finance, Didi Finance, ...

Why Did Xi Jinping Purge Jack Ma? Commentary Jack Ma, now China’s fourth-richest man and the former CEO of Chinese e-commerce giant Alibaba, criticized China’s financial system policies at the Bund Summit 2020 in October. Since then, his enterprises have become the target of Xi Jinping. At first, the listing plan for Ant Group, an affiliate company of Alibaba, was halted on Nov. 3. On April 10 this year, the Alibaba Group was fined $2.8 billion on the grounds that it violated an antitrust law, and Ma’s elite business school, Hupan University, was forced to halt enrolments. I don’t t...

Chinese Political Conflicts Spread Into Economy Families of China’s leader Xi Jinping and a rival faction led by former leader Jiang Zemin have been involved in business conflicts, leading to speculation that there are warring factions within the CCP. As a one-party state, the Chinese Communist Party (CCP) monopolizes power in China. The leadership, however, is not monolithic. After taking office, Xi sought to consolidate his power in the party, avoiding being hamstrung by factional politics, like his predecessor Hu Jintao was. In Xi’s anti-corruption campaign, many high-ranking officials...

China blocked Jack Ma’s Ant IPO after an investigation revealed who stood to gain FILE PHOTO: REUTERSPremium Lingling Wei , The Wall Street Journal Well-connected Chinese power players, including some with links to political families that represent a potential challenge to President Xi, were behind layers of opaque investment vehicles. The information added to concerns about financial risk and anger at Ma’s outspoken criticism. Share Via Read Full Story When China’s leader Xi Jinping late last year quashed Ant Group’s initial public offering, his motives appeared clear: He was worrie...

12 January 2021, 10:24 pm EST By Apple sources have revealed that the Cupertino giant has reached out to several companies regarding the production of the Apple Car, an electric vehicle bearing the company's name, with an EV startup called Canoo. Different companies have been in talks with Apple but recent revelations have shown that Canoo was one of the top choices of the company. (Photo : Tech Vision via YouTube) The world's most valuable technology company, Apple, has its intentions revealed to create their version of electric vehicles which is expected to launch or reveal itself in thre...