While the sudden cancellation of his Ant Group IPO shocked many investors, Ma’s fall from grace had been years in the making. It is not new that the party regulates private financial businesses as this had been explicitly stated in China’s constitution. “But many private businessmen did not take this seriously," Zhiwu Chen, director of the Asia Global Institute, tells the Bloomberg Businessweek. "The recent Ant episode was a wake-up call."
Find out more here.
Interview I Hong Kong's Broken Billionaire Factory Shows City Losing Step I Heiwai Tang
Interview I The Indo-Pacific Economic Framework I Heiwai Tang
Interview I Hong Kong plan to ease COVID restrictions 'comes too late' I Heiwai Tang
Interview I China-EU trade: commercial ties ‘hard to break’ despite disagreement over Ukraine war I Heiwai Tang