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China orders Alibaba founder Jack Ma to break up fintech empire

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dspp
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China orders Alibaba founder Jack Ma to break up fintech empire

#370570

Postby dspp » December 28th, 2020, 6:34 pm

China orders Alibaba founder Jack Ma to break up fintech empire
Central bank says Ant Group governance is unsound and tells it to rectify ‘illegal activities’

https://www.theguardian.com/business/20 ... intech-ant


aka don't mess with the Party

- dspp

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Re: China orders Alibaba founder Jack Ma to break up fintech empire

#370578

Postby scrumpyjack » December 28th, 2020, 7:11 pm

Clearly not deferential enough to the CCP bigwigs.
rather silly of an otherwise very astute man

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Re: China orders Alibaba founder Jack Ma to break up fintech empire

#370592

Postby odysseus2000 » December 28th, 2020, 8:09 pm

scrumpyjack wrote:Clearly not deferential enough to the CCP bigwigs.
rather silly of an otherwise very astute man


Or maybe very acute, this way he is seen to be following the orders of the leaders and will not end up in jail or dead as happened to several entrepreneurs in Russia and no doubt in the break up there will be opportunities for the CCP bigwigs to take shares etc.

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Re: China orders Alibaba founder Jack Ma to break up fintech empire

#370695

Postby Adamski » December 29th, 2020, 7:46 am

So that'll explain why my China tech holdings have taken a beating the past two months! Very interesting write up in the Guardian. Not sure if this is the start of a generalised crackdown on China tech, or just focused on the Ant Group.

I'd expect China shares to recover if only targets Ant, which Alibaba holds a 33% stake, once market nerves recover. Think long term Alibaba and peers will outperform cause undervalued compared to likes of Amazon, Shopify, but expect volatility and short term ups and downs.

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Re: China orders Alibaba founder Jack Ma to break up fintech empire

#370700

Postby odysseus2000 » December 29th, 2020, 8:08 am

Adamski wrote:So that'll explain why my China tech holdings have taken a beating the past two months! Very interesting write up in the Guardian. Not sure if this is the start of a generalised crackdown on China tech, or just focused on the Ant Group.

I'd expect China shares to recover if only targets Ant, which Alibaba holds a 33% stake, once market nerves recover. Think long term Alibaba and peers will outperform cause undervalued compared to likes of Amazon, Shopify, but expect volatility and short term ups and downs.


I imagine it will make any Chinese business wary and not be good for western business invested in China, including Tesla. If the CCP can do this to one of their big stars, with a big following in the West, then no one is safe.

Much depends on what the Biden administration policy will be to China, if this is Obama like, as expected, we can expect removal of tariffs etc.

Other wild cards are this new variant Covid and the political tension between India and China and China and Taiwan.

Additionally the markets are up a lot in 2020 despite the pandemic so this might be taken as a reason to have a sell off.

Regards,

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Re: China orders Alibaba founder Jack Ma to break up fintech empire

#370703

Postby Dod101 » December 29th, 2020, 8:47 am

My interest is in what Baillie Gifford will have to say. They know a lot more about it all than I (and I daresay we) do. WE need something a bit more authoritative than the Guardian, although I am not questioning its report.

Dod

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Re: China orders Alibaba founder Jack Ma to break up fintech empire

#370709

Postby Dod101 » December 29th, 2020, 9:07 am

And BG China is up over £5 this morning it what admittedly seems to be a strong market.

Dod

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Re: China orders Alibaba founder Jack Ma to break up fintech empire

#370717

Postby scrumpyjack » December 29th, 2020, 9:40 am

Dod101 wrote:My interest is in what Baillie Gifford will have to say. They know a lot more about it all than I (and I daresay we) do. WE need something a bit more authoritative than the Guardian, although I am not questioning its report.

Dod


Hard to think of a paper less authoritative than the Guardian?

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Re: China orders Alibaba founder Jack Ma to break up fintech empire

#370745

Postby mark88man » December 29th, 2020, 10:49 am

scrumpyjack wrote:
Dod101 wrote:My interest is in what Baillie Gifford will have to say. They know a lot more about it all than I (and I daresay we) do. WE need something a bit more authoritative than the Guardian, although I am not questioning its report.

Dod


Hard to think of a paper less authoritative than the Guardian?

I agree the guardian is not authoritative, but I can think of a whole range of sources less authoritative - mainly owned by Mr Murdoch and not all at the tabloid end of the spectrum

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Re: China orders Alibaba founder Jack Ma to break up fintech empire

#372401

Postby odysseus2000 » January 2nd, 2021, 3:49 pm


dspp
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Re: China orders Alibaba founder Jack Ma to break up fintech empire

#373414

Postby dspp » January 5th, 2021, 12:24 pm

"Speculation is mounting over the whereabouts of the Chinese billionaire Jack Ma, who has not been seen or heard in public for more than two months."

https://www.theguardian.com/business/20 ... er-alibaba

- dspp


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