China’s reform and opening up has created a large number of wealthy businessmen, party and government relations a cover, the money we earn. It is not surprising that these wealthy businessmen have been frequently involved in major incidents after Xi Jinping came to power. Finally, Jack Ma, China’s richest man, and his Alibaba Group, as well as China’s largest financial technology company Ant Group, have been named. First, Ant Financial’s IPO plans were frequently checked by the party’s water meter, and the financial regulator also directly interviewed Ma and Alibaba. Other countries are rich, but in China, they are enemies of the state, and the rich businessmen have become enemies in the eyes of the party.
In fact, Alibaba Group has been providing a number of financial services since 2003, when it launched Alipay service, until 2014, when Ant Financial Services was established, but because of Alibaba’s good relationship with the Party, the Chinese government has been turning a blind eye and letting the Ant Group sit and grow, and now it is so big that it has become an enemy of the state, only to find that it has stolen big business from Chinese banks and even In addition, Alipay handles 118 trillion yuan worth of transactions in China a year, and Ant Group has big data on 1 billion Chinese and 80 million merchants, which scares the top brass of the Communist Party.
The other reason for the attack on Ma is that Ma is a member of the Jiang faction and has a close relationship with Jiang Zemin’s grandson, Jiang Zhicheng, who is also the manager of Boyu Capital, one of the original shareholders of Ant, so how can Xi Jinping bear this anger if he lets the Jiang faction continue to expand? So the blocking of Ant is proof that no matter how big a private company is, it must ultimately listen to the Party, and the Party is the boss.
Ma disappeared from the media pages after his speech that offended Wang Qishan on Oct. 24, and two months have passed since then, almost evaporating. It is surprising that such an important Chinese richest man would be so “low-key”, whether or not he was disappeared? Let the outside world have a little more room for imagination.
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