Connect with us

Politics

Political rivalry behind Jack Ma’s disappearance and Ant’s IPO suspended

Avatar

Published

on


On January 20, Jack Ma, missing for weeks, finally made an appearance, too, via a video posted by Chinese state media. The business mogul had mysteriously disappeared after making derogatory statements against the Communist-led Chinese government and being denounced by several Chinese media. After his comments, China suspended the long-awaited IPO of its company, ANT Group as well.

While speculation was rife about China’s suspension of Ant Group’s IPO due to Jack Ma’s public comments against the Chinese regime, reports now indicate that there may be a political brawl below the surface. . According to a Wall Street Journal report, the IPO of the ants has been suspended by China because it would benefit those who could possibly challenge President Xi Jinping politically.

The Wall Street Journal report said, “Behind layers of opaque investment vehicles that hold stakes in the company, there is a coterie of well-connected Chinese actors, some of whom have ties to political families who represent a potential challenge for the President Xi and his entourage ”.

According to the Wall Street Journal report, it is becoming evident that the sweeping crackdown on Jack Ma’s business interests is not only the result of the comments he made, but also the result of President Xi Jinping’s autocratic propensity to ensure that no political opposition ever flourishes. in the countryside.

According to the WSJ report, one of Ants’ investors is Boyu Capital, a private equity firm founded in part by Jiang Zhicheng. Jiang Zhicheng is the grandson of former Chinese leader Jiang Zemin. Another is Li Botan, who controls the Beijing Zhaode Group, which has invested in Ant through three tiers of investment vehicles, according to the report. Li is the son-in-law of Jia Qinglin, a senior executive who served on the Politburo standing committee for ten years until 2012 and is close to Jiang.

It is relevant to note that in 2015, Xi Jinping had used The People’s Daily sends a message to Jiang Zemin to stop meddling in politics. At the time, it was reported that Xi’s campaign against corruption had essentially tricked and rendered unnecessary a long list of senior officials, many of whom were close allies of Jiang, including former security tsar Zhou Yongkang. , and Xu Caihou and Guo Boxiong, both were vice-chairmen of the Central Military Commission. At the time, it was believed that Xi Jinping might not really purge Zemin and his supporters, however, the current fiasco with Jack Ma is a clear indication that Jinping is not ready to accept any form of political rivalry or contesting its hegemony.

It is relevant to note that Xi Jinping has mounted several political rivals by acting behind the mask of his anti-corruption cleansing. However, the WSJ reports that some political rivals who work behind the scenes may pose a challenge in the future, and the suspension of Jack Ma’s IPO is seen as another measure to end political dissent.

Jack Ma and his critique of Xi Jinping, China

Ma had embarked on a tirade against China’s current banking system, the country’s financial regulatory structure under Communist rule, and how she was unsuited to her fintech giant, the Ant Group. Mas’s critical remarks for the Communist regime, which demands nothing more than total and utter obedience, ended the scheduled IPO of its fintech giant, Ant Group, on November 3, just two days before its IPO.

A few days after his unflattering opinion of the Chinese authorities, Ma was summoned to a meeting with Communist Party officials. His other company, Alibaba, is also under investigation for monopolistic behavior, according to a statement released by the market supervision arm of the Communist Party of China.

On January 20, Jack Ma made his first public appearance since October 2020.

Previously, reports had revealed that Jack Ma had adopted supervision in an unknown location. However, Duncan Clark, chairman of BDA China, said he did not believe Jack Ma was in custody.

Mas’s disappearance from the public sphere is part of a larger conception of the CCP to demand conformity and loyalty from individuals who hold great influence in shaping public opinion. It is pertinent to note that Jack Ma is not the first high profile man to disappear into thin air.

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



picture credit

ExBUlletin

to request, modification Contact us at Here or [email protected]