2023-06-17 12:59:25
[Financial Channel/Comprehensive Report]The Alibaba Group founded by Jack Ma has been split into 6 companies under the suppression of Xi Jinping, officially declaring the disintegration of the Alibaba empire. French media believe that this can be regarded as the end of China’s crazy economic growth, or even the end of an era.
Simon Leplâtre, Le Monde’s Shanghai correspondent, expressed his views on the disintegration of Jack Ma’s empire. The French translation pointed out that in the autumn of 2020, Jack Ma made provocative speeches in front of government officials, which became the source of the Chinese authorities’ sweeping of Internet platforms. Xi Jinping also condemned the disorderly expansion of private enterprise capital.
Not long following, Ma Yun disappeared for 3 months, and market rumors abounded. In April 2021, the Chinese authorities fined Ali 18 billion yuan on the grounds that Alibaba abused its dominant position in the market.
Ant Financial, a subsidiary of Alibaba, was forced to restructure 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.
In just a few years, Ma Yun and Alibaba have gone from being the darlings of Beijing and the objects of capital pursuit, and finally becoming the targets of killing chickens and monkeys, and finally split their empire into 6 subsidiaries. This can be regarded as a symbol of the end of China’s crazy economic growth, and even a The end of an era.
Andy Xie, an independent economist in Shanghai, said that since the CCP came to power, it has been determined to control money and information. For the Beijing authorities, Alibaba is not only too rich, but also too powerful to gain a majority of more than 1 billion Chinese Internet users. data. But for Beijing, it is only the CCP that has the right to control social dynamics.
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