Recently, it was reported that Alibaba’s second-hand trading platform “Idlefish” was recently interviewed by the Beijing Housing and Construction Commission for allegedly publishing illegal rental information.
On April 9, the Beijing Municipal Housing and Urban-Rural Development Commission’s official microblogging site “Anju Beijing” issued a news release saying that the Commission recently inspected Alibaba’s “Idlefish”, which has been increasing the number of housing information, and found that it was suspected of releasing illegal leasing information such as subleasing guaranteed housing (limited to low- and middle-income households) and allowing agents who have not obtained the record brokerage agencies and information cards of practitioners to release housing information, and interviewed “Idlefish”.
The announcement also pointed out that the Beijing Municipal Housing and Construction Commission, together with the Chaoyang Housing Authority, Haidian Housing Authority and Fengtai Housing Authority, jointly inspected the real estate market and said that 26 agencies were investigated and punished for violating the provisions of the “Real Estate Brokerage Management Measures”, and asked mainstream online platforms to take down all the listing information released.
These 26 agencies include: Beijing Happy House Property Management Co.
Before the “idle fish network” was investigated, Alibaba founder Jack Ma was interviewed.
On the evening of November 2 last year, the website of the CPC Securities Regulatory Commission (CSRC) announced that on the same day, the CPC Central Bank, the CPC Banking and Insurance Regulatory Commission, the CPC Securities Regulatory Commission and the State Administration of Foreign Exchange (SAFE) conducted regulatory interviews with Jack Ma, the founder of Alibaba and the de facto controller of Ant Group, as well as Chairman Jing Xiandong and President Hu Xiaoming of Ant Group. The next day, the Chinese Communist authorities abruptly called off Ant Group’s upcoming simultaneous A-share and Hong Kong stock listing, which was to take place two days later at that time, and asked it to rectify the situation. After that, Ma disappeared from public view.
Until the evening of March 12 this year, Ant Financial CEO Hu Xiaoming sent an internal email saying that he would resign from his position as CEO of Ant Financial. On the same day, the Wall Street Journal said that the Chinese Communist Party’s antitrust agency was considering issuing the highest fine ever imposed by a Chinese company on Alibaba, which could exceed the $975 million Qualcomm paid in 2015 for anticompetitive behavior, according to knowledgeable sources.
On the same day, March 12, the CCP’s General Administration of Market Supervision fined 12 mainland companies, including Tencent, Baidu, Good Future, Meituan and Byte Jump, RMB 500,000 each for their involvement in 10 cases of illegal implementation of operator concentration in the Internet sector.
On March 24, Alibaba announced the establishment of a Communist Party Committee at its Beijing headquarters. The Voice of America cited an analysis on April 2 that Alibaba now has international pressure from U.S. stock market regulators in the foreground, followed by the CCP’s coveting of its capital and technology assets, and now the CCP Party Committee has also fully penetrated into Alibaba’s enterprise, and sooner or later other private companies will also be transformed by the CCP.
The Wall Street Journal reported on Feb. 23 that Boyu Capital, one of the shareholders of Alibaba and Ant Financial and founded by Jiang Zhicheng, the grandson of Jiang Zemin, was pulling out of Hong Kong in a low-profile manner, and that Boyu’s two co-founders had moved to Singapore, where some of its operations had been relocated.
The two co-founders of Boyu have moved to Singapore, and some of their operations have been relocated to Singapore. Current affairs commentator Wen Zhao said at the time that Boyu Capital was founded by Jiang Zemin’s family, and that Xi Jinping was investigating Boyu Capital at this time in order to deter the Jiang faction from seeking re-election to the 20th National Congress.
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