Description
Added on the 21/07/2020 14:00:00 - Copyright : EFE Inglés
Shares of Chinese shopping website Alibaba fell as much as 3% on Monday. The prolonged absence from the public view of its founder Jack Ma has raised eyebrows. According to Markets Insider, Ma has not been seen in public in more than two months. When he unexpectedly failed to show up, he was abruptly replaced as a judge on an African entrepreneurship TV show late last year. His companies Alibaba and Ant Group face increased regulatory pressure from the Chinese government. The crackdown coincides with Ma's remarks at a conference that Chinese financial regulators were an 'old people's club,' unable to keep up with technology.
Jack Ma, the billionaire founder of Alibaba and Ant Group hasn't been seen in public in over two months. At a Shanghai conference in late October, Ma called financial regulators an 'old people's club' ill-suited to oversee Chinese tech innovation. In response, Chinese regulators launched an antitrust investigation into Jack Ma's online shopping behemoth. The government also introduced new regulations that halted the IPO of Ma's Ant Group. But Business Insider reports Ma's disappearance isn't unique among prominent Chinese personalities who have tangled with the government. Retired real estate tycoon Ren Zhiqiang and former asset manager Xiao Jianhua, have also disappeared after facing criticism from Chinese regulators. And Meng Hongwei, the former head of the International Criminal Police Organization, disappeared in September 2018 during a trip to China from France.
A week before the fintech Ant Group went public, Chinese President Xi Jinping called the proceedings to a halt. Business Insider reports Xi stopped the historic $37 billion initial public offering after its founder, Jack Ma, criticized government leaders. At a conference in Shanghai, Ma made incendiary comments that didn't go down well with the president or other government officials. Ma dismissed global banking rules, saying they got in the way of innovation. As large private businesses accumulate wealth and power in the communist nation, Xi has displayed a low tolerance for them as they threaten his authority.
Hong Kong, Aug 23 (EFE/EPA).- Hong Kong's Central Market, a Grade III historic building, reopened Monday to the public 18 years after it was closed down, following a 500-million-HK-dollar makeover. (Camera: JEROME FAVRE).B-ROLL OF PEOPLE VISITING THE CENTRAL MARKET IN HONG KONG.
Hong Kong, May 14 (EFE/EPA).- At the start of the coronavirus outbreak in January 2020, Hong Kong people were quick to respond, trying everything they could to keep the mysterious virus from mainland China at bay. They adopted mask wearing and sanitized their hands frequently, a vigilant approach they proudly attribute to the city’s relatively low number of Covid-19 infections. (Camera: JEROME FAVRE).SHOT LIST: A VACCINATION CENTER IN HONG KONG.
|
Support : Technical 
- Content 
- Editors 
