The crackdown has proved tumultuous for Chinese tech firms, with billions wiped off their value, and moves including blocking the flotation of Ma’s financial services firm, Ant Group, which would have been the world’s biggest IPO. Earlier this week the fintech company announced that Ma, once China’s richest man but now living in self-imposed exile in Japan, would cede control of the company.
søndag 15. januar 2023
China to take ‘golden shares’ in tech firms Alibaba and Tencent
China is to take “golden shares” in two of its biggest tech companies, Alibaba and Tencent, as Beijing extends its influence on the country’s star tech firms and its most powerful and wealthy business people. Beijing’s move marks a shift away from imposing hefty fines and sanctions in its two-year tech crackdown, which was launched after Alibaba founder, Jack Ma, criticised regulators,
The crackdown has proved tumultuous for Chinese tech firms, with billions wiped off their value, and moves including blocking the flotation of Ma’s financial services firm, Ant Group, which would have been the world’s biggest IPO. Earlier this week the fintech company announced that Ma, once China’s richest man but now living in self-imposed exile in Japan, would cede control of the company.
The crackdown has proved tumultuous for Chinese tech firms, with billions wiped off their value, and moves including blocking the flotation of Ma’s financial services firm, Ant Group, which would have been the world’s biggest IPO. Earlier this week the fintech company announced that Ma, once China’s richest man but now living in self-imposed exile in Japan, would cede control of the company.
