Jack Ma, the founder of Alibaba Group, has been suppressed for his criticism of the Chinese Communist Party‘s financial system. Although he appeared via video message recently, some experts believe that Ma is likely to be imprisoned by the Central Commission for Discipline Inspection (CCDI) next, as Xi Jinping fears for his unstable power.
According to an article by Han Lianchao, vice president of the U.S.-based human rights organization Citizen Power, Ma, a member of the Communist Party of China (CPC), is at risk of being imprisoned by the CCDI.
The article cites the example of Wu Xiaohui, the former grandson-in-law of Communist Party leader Deng Xiaoping and former chairman of Anbang Group, who appeared in this manner. The court sentenced Wu Xiaohui to 18 years in prison and the seizure of 85.7 billion yuan in property.
The article says Ma looks like he won’t face the same fate as Wu Xiaohui, but his troubles are feared to be far from over. Because of Xi’s insecurity and suspicion, Ma will have to endure torture because Xi will not tolerate competitors or potential competitors challenging his position.
Finance is one of the most important pillars of the CCP’s efforts to maintain totalitarian rule, and Xi has repeatedly stressed that financial security is an important part of national security and that the bottom line of no systemic financial risk must be firmly guarded.
The article points out that Xi has been ensuring that state-owned enterprises are “stronger and bigger,” and that he believes that private enterprises can undermine the socialist economy. Despite the involvement of some CCP princelings in Ma’s business, Ma’s enterprise is still a private enterprise and is growing rapidly to control huge resources.
The article argues that Xi Jinping would never allow Ma, or any individual, to have such enormous resources and power. It is not yet known whether Ma will follow in the footsteps of Wu Xiaohui and Xiao Jianhua, the head of the Tomorrow System, but it is certain that Xi is using anti-monopoly tactics to undermine Ma’s businesses and bring them under strict CCP control.
The article concludes that in order to maintain a solid regime, Xi will continue to crack down on private entrepreneurs and weaken private companies to ensure the monopoly of state-owned enterprises in key areas, and Ma fears being jailed by the CCDI next.
Jack Ma speaks at the Vivatech startup and innovation fair in Paris on May 16, 2019.
Ma is said to have close ties to the Communist Party’s Jiang faction, and Jiang Zemin’s grandson Jiang Zhicheng also owns shares in Alibaba. Many believe that Ma was purged by the CCP authorities because he was involved in a power struggle at the highest level.
After Ma’s speech at the Bund Financial Summit in Shanghai on October 24, 2020, in which he publicly criticized the Chinese Communist Party’s supervision, the Ant Group’s IPO was suddenly halted on the eve of its official listing in early November, and Ant Group and Alibaba were subjected to successive purges by the authorities. Jack Ma himself did not show up for nearly three months in a row.
On January 20, Ma made a video appearance at the rural Teacher Award ceremony held by the Ma Foundation, and on January 21, a major personnel earthquake occurred at the top of the Ant Group. Observers believe that under the Chinese Communist Party system, Ma may have already submitted and helped the Chinese Communist Party to control consumers at Home and abroad through digital hegemony.
The weekly Barron’s reported on Jan. 10 that Leland Miller, executive director of China Beige Book, a leading U.S. market research firm, said in an interview that Ma and his company are in a lot of trouble and that Ma may be “wisely keeping a low profile” right now, but he may also be locked in a dark room. .
Ma’s bizarre case illustrates the unique risks of investing in China, where the Communist Party can quickly change the rules without prior warning, the paper said. And with Alibaba’s sudden reorganization and its Ant Group under the control of Communist authorities, Ma could reappear in a few weeks or months.
The Taiwanese newspaper Shangpao wrote an article by veteran commentator Zheng Zhongyuan, saying that Ma and more future private company bigwigs will go to a different kind of “prison,” if not a sentence.
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