The Chinese government in October 2020 blocked what would have been the world’s largest initial public offering (IPO) for Ant Group, a company owned by billionaire Jack Ma. Ant Group’s $ 37 billion double listing on the markets of Shanghai and Hong Kong has been suspended after months of shoulder rubbing between Chinese regulators and senior Ant Group executives, including Ma. Ant Group was said to have had to suspend the lists due to the changes in China’s financial regulations regarding online loans, the main business of Alipay’s parent company.
Read: China’s crackdown on Jack Ma deepens, pressure mounts on Ant group to shake off loans
However, the Wall Street Journal, in its latest report, claims the stay order could come directly from Chinese President Xi Jinping due to some opaque investments in Ant Group by large Chinese political families. According to the report, one of the companies that invested in Ant Group is linked to the grandson of former chairman Jiang Zemin. Another company owned by the son-in-law of former Politburo Standing Committee member Jia Qinglin also invested in Ant Group and was expected to benefit from its IPOs.
Read: China steps up Alibaba crackdown with anti-monopoly probe; Xi relentless on Jack Ma
The report states that Xi Jinping viewed these beneficiaries as a potential challenge for himself and those around him. The Wall Street Journal report describes them as a “coterie of powerful Chinese players.” Since Xi Jinping took power in 2012, he has severely cracked down on party members who benefit from their influence and position in the party. The Chinese president, often referred to as the 21st century Mao Zedong, sees the abuse of power as a threat to the party’s legitimacy. The report says investments from families linked to the Communist Party were among other concerns that led to Ant Group’s listing on the stock exchange.
Read: Amid rumors of Jack Ma’s disappearance, look back on his journey from teacher to billionaire
MA and regulators working on restructuring plans
Chinese regulators have also launched an anti-monopoly investigation against e-commerce giant Alibaba Group, accusing the firm of forcing merchants to choose between two platforms. However, recently reports have emerged suggesting that Ma is working with regulators on restructuring plans that would allow the government to subject Ant Group to bank requirements, which the company had previously dodged despite its lending activity.
Read: Jack Ma lost $ 11 billion in past two months amid increased control over China: report
What Are The Main Benefits Of Comparing Car Insurance Quotes Online
LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos
to request, modification Contact us at Here or [email protected]