China Newsbase
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The China News Database was last updated at 01:50PM on November 9, 2023.
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45 articles matching the search query.
Alibaba (9988): China's Anti-Graft Agency Has Direct Role in Jack Ma’s Ant Probe
China’s biggest graft-busting body was involved in the probe of Ant Group: The Central Commission for Discipline Inspection (CCDI), which oversees corruption probes into top Party officials, was one of the agencies named in a recent investigation into links between state-owned Chinese firms and Ant — the fintech offshoot of Alibaba.
Ant’s planned IPO was canceled after Alibaba founder Jack Ma (马云 Mǎ Yún) criticized China’s financial regulators in 2020. Chinese prosecutors this week charged former Hangzhou Party chief Zhōu Jiāngyǒng 周江勇 with accepting “huge” bribes, but did not mention rumored connections to Ant.
Momenta Raises $200 Million in Self-Driving Cars Push
Self-driving startup Momenta has raised over $1 billion this year after its latest $200 million round, with backing from Jack Ma’s investment fund and state-owned SAIC Motor.
Jack Ma visits Dutch institutes in pursuit of passion in farm technology
Alibaba, which began its growth by connecting global buyers with China’s producers, had long staked its business in helping small producers, including farmers in faraway places, sell their products around the world.
Alibaba shares surge nearly 7% after Jack Ma appears in Europe and company releases new chip
Jack Ma took his first steps on foreign soil since the suspension of Alibaba affiliate Ant Group’s IPO in November 2020. Alibaba’s shares surged nearly 7% on the news.
China’s regulatory crackdown is good news for startups aligned with CCP goals
Things are changing in China, and the regulatory landscape of tech work in the country won't be the same from here on out.
China’s Digital Yuan Puts Ant and Tencent in an Awkward Spot
China is calling on private-sector pioneers Ant Group and Tencent to help it develop a state-backed digital currency that threatens the pair’s highly popular payment networks.
UPDATE 1-Berkshire's Munger says China right to clip Ma's wings
Berkshire Hathaway Inc Vice Chairman Charlie Munger praised China's move to impose a sweeping restructuring on Jack Ma’s Ant Group, the fintech giant whose record $37 billion IPO was derailed by regulators in November. The 97-year-old told CNBC in an interview alongside Berkshire CEO and billionaire investor Warren Buffett that the United States should take a leaf out of China's book and "step in preemptively to stop speculation". Communist Party-ruled China "did the right thing" by reining in Ma, the founder of e-commerce giant Alibaba Group Holding , who has hardly been seen in public since he criticised regulators in a speech in October last year.
Ant to Change How It Makes Loans With New Consumer-Finance Company
The Jack Ma-controlled mobile-payments company will hold a 50% stake in the new entity, with the rest held by six other shareholders.
Jack Ma’s school for business elites drops ‘university’ from its name
A Hangzhou-based school set up by Jack Ma to train business elites has quietly dropped university from its name, a move that follows its suspension of new admissions this year.
WSJ News Exclusive | Ant IPO-Approval Process Under Investigation by Beijing
China’s central government is investigating how Jack Ma won speedy approvals for his Ant Group’s stock listing last year, signaling that state actors are getting embroiled in the crackdown on the tech billionaire.
China’s crackdown on Jack Ma has come to Hong Kong’s paper of record
Staff worry the publication will be sold to a Chinese state-owned entity, giving Beijing direct control of the outlet.
WSJ News Exclusive | Beijing Asks Alibaba to Shed Its Media Assets
China’s government has asked Alibaba Group to dispose of its media assets, as officials grow more concerned about the technology giant’s sway over public opinion in the country.
China Lays Plans to Tame Tech Giant Alibaba
The e-commerce company is likely to face softer treatment than its Ant affiliate, provided it distances itself from founder Jack Ma and aligns itself more closely with the Communist Party.
Ant Group says it will help employees monetize shares and commits to listing after canceled IPO
Eric Jing, executive chairman of Ant Group, said the company will find a "short-term liquidity solution" for employees and committed to an IPO.
China Blocked Jack Ma’s Ant IPO After Investigation Revealed Likely Beneficiaries
Well-connected Chinese power players were behind layers of opaque investment vehicles that would have profited from the world’s largest stock listing. The information added to concerns about financial risk and anger at Ma’s outspoken criticism.
Jack Ma's uneasy relationship with Beijing casts shadow over Alibaba's strong earnings and future
Jack Ma appears to have got on the wrong side of the Chinese government, sparking a chain of events that has upped regulatory scrutiny on Alibaba.
Alibaba, Amid Antitrust Pressure, Is Conducting Internal Review
Chinese e-commerce giant reports 52% rise in quarterly net income even as regulatory scrutiny intensifies.
Alibaba shares jump on Jack Ma's first appearance in 3 months
Alibaba's billionaire founder resurfaced as he spoke to 100 rural teachers through a video call, three months after his last public appearance in October, sending the e-commerce firm's shares up more than 8% in Hong Kong. A recording of the call was first posted on a news portal backed by the government of Zhejiang, the eastern province where Alibaba is headquartered, and the video was verified by an Alibaba spokesperson. Speculations swirled around Ma's whereabouts after media reported in December that he skipped the taping of a TV program he created.
Trump’s Ban on Chinese Apps Falls to Biden to Execute—or Not
Restrictions on the use of Alipay, WeChat Pay and other apps wouldn’t kick in until February, meaning the new administration has a chance to modify or suspend the ban.
