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Exposing the Red Elites Behind 'Chinese Uber' Didi (Part 2) theepochtimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theepochtimes.com Daily Mail and Mail on Sunday newspapers.
‘Missing’ Jack Ma slips to fourth spot in China’s rich list January 12, 2021 Jack Ma× Tech entrepreneur’s net worth fell 6% from $58.8 b in October, according to Hurun data When the world is debating Jack Ma’s disappearance, back in China, the billionaire’s net worth fell to $55.5 billion, pushing him down to the fourth position in the country’s rich list. This is the first time in five years, the Alibaba Group co-founder is not featured among the top three tycoons in China. As on January 8, Ma Yun’s (Jack Ma s Chinese name) net worth fell 6 per cent from $58.8 billion recorded in October 2020, according to data collated by Hurun Research. ....
Quote To Start The Day: “[T]his has actually been a phenomenal year for fixed income, and yields have plummeted, which is not all that phenomenal. But it has led to phenomenal returns for investors. But with yields now really at these very, very low levels across the curves and across the credit spectrum, investors are looking for opportunities for yield. And one of the ways to boost yield is of course to deploy a little bit of leverage … The reason why we think this is an opportune environment to do that is because, from an economic standpoint, I think we re going to be in a more stable place in 2021. So we shouldn t have to worry about credit events.” ....
Global investors flee from Chinese tech stocks after the government crackdown on Ant and Alibaba Global investors are running from Chinese tech stocks in the wake of the government’s crackdown on Ant Group and Alibaba, two high-flying businesses founded by Ma Yun (Jack Ma) that were once hailed as paragons of China’s new tech elite. Shares of major technology companies in the country have fallen sharply in recent days, with Bloomberg calculating that Alibaba, Tencent, JD.com and Meituan have lost around $200 billion in value during a handful of trading sessions. Already reeling from the last-minute halt of the public debut of Ant Group, a major Chinese fintech player with deep ties to Alibaba, the e-commerce giant came under new fire, as China’s markets watchdog opened a probe into its business practices concerning potentially anticompetitive behavior. ....