2023-06-18 01:00:37
[NOWnews今日新聞]Under the strong supervision of the Chinese authorities, the Alibaba Group founded by Ma Yun was split into six subsidiaries, officially declaring the disintegration of the Alibaba empire. French media pointed out that this also symbolizes the end of China’s crazy economic growth, and even the end of an era in China.
French reporter Simon Leplâtre in Shanghai recently published an analysis article on the disintegration of Jack Ma’s empire. The French translation pointed out that in the autumn of 2020, Jack Ma made a provocative statement in front of officials, which became a large-scale issue in China. The starting point of cracking down on online platforms, Chinese President Xi Jinping even condemned the “disordered expansion of capital”.
After that, Jack Ma disappeared for three months, and rumors spread. In April 2021, the Chinese authorities fined Alibaba 18 billion yuan for abusing market dominance. Ant Financial, a subsidiary of Alibaba, was forced to reorganize and became a thorn in the side of traditional financial institutions. In early 2023, Jack Ma relinquished control of Ant Financial, retaining only 6% of the company’s board of directors.
Ma Yun and Alibaba have changed from the darlings of investors and the objects of capital pursuit, to symbols of political risk in just a few years. However, the outside world believes that even if Ma Yun did not “speak the wrong words”, the Chinese authorities will tighten the supervision of technology platforms sooner or later. The anxiety of the CCP leaders.
Andy Xie, an independent economist in Shanghai, said that since the CCP came to power in 1949, it has been determined to control money and information. Alibaba is not only too rich but also too powerful for Beijing to have access to most of the data on more than a billion Chinese Internet users. But for Beijing, it is only the CCP that has the right to control social dynamics.
Le Pratt said that Alibaba’s situation also shows that times have changed, and the era of crazy growth of the Chinese economy, especially Internet companies, is over.
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