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May 10, 2021 Jack Ma learned the hard way, and paid a hefty price for speaking out when Beijing suspended his Ant Group’s monster IPO following his criticism of regulators. Now, another prominent Chinese tech executive is having a hard time after posting and later deleting a poem seen by many as anti-establishment. Wang Xing, the billionaire founder and CEO of Chinese food delivery giant Meituan, faces questions about whether he delivered a veiled criticism of the government with a classical Chinese poem he posted on social media platform Fanfou last week. Written by a poet from China’s...

ASX to drop, Wall St pulls back from record high Share Australian shares are set to drop at the open, taking their direction from Wall Street as all three major benchmarks ended lower to start their week amid renewed concerns about inflation. ASX futures were down 52 points or 0.7 per cent to 7096 near 7am AEST. The currency slipped, hovering near US78.40¢. The yield on the US 10-year note rose 2 basis points to 1.60 per cent near 4.59pm in New York. On Wall Street, shares were mostly lower with all three benchmarks closing down. The Dow turned negative late to finish down 35 points or 0.1 p...

China readies big Tencent fine in crackdown: report Bloomberg China is preparing to slap a fine on Tencent Holdings Ltd (騰訊) as part of its antitrust crackdown on the nation’s Internet giants, Reuters said, citing people with knowledge of the matter. Tencent might face a fine of at least 10 billion yuan (US$1.6 billion), which is less than the US$2.8 billion levied upon fellow titan Alibaba Group Holding Ltd (阿里巴巴), the report said. The company faces penalties for not properly reporting past acquisitions and investments for antitrust reviews, as well as for anticompetitive prac...

VCG via Getty Images China is preparing to slap a fine on Tencent as part of its antitrust crackdown on the country’s internet giants The campaign against China’s tech giants has already ensnared Alibaba and Meituan, and analysts have widely regarded Tencent as possibly being next in line The government has become increasingly concerned over the growing influence of titans like Alibaba, Tencent and Meituan over every aspect of Chinese life as well as the vast amounts of data they’ve amassed through providing services like online shopping, chatting and ride-hailing. China is preparing to...

Finding Wealth In China’s “Time Machines”: 2021 Forbes Midas List’s Jing Hong Share to Linkedin “China’s competition is cut-throat. People can’t just talk – they also have to have the capability to inspire their team members and really get things done," says Gaocheng Capital CEO Jing Hong, who ranks No. 39 on the 2021 Forbes Midas List. Gaocheng Jing Hong, the highest debuting China-based member of the newly released 2021 Forbes Midas List this month, traces the roots of her investment success to growing up as the only daughter of two electrical engine...