China pushes the country’s largest technology companies

Some icy winter months for Alibaba founder Jack Flour. He was pushed into the cold late last fall – just days before he was to list financial technology firm Ant Group, which was expected to be worth $ 300 billion.

Last week, Ant Chief Executive Officer went missing and the list was postponed indefinitely. The millionaire has only appeared in a 50-second video conference without attracting public attention.

Mao was ousted from the throne as China’s richest man, with the less controversial entrepreneur Zhang Shanxi topping the list with about $ 85 billion.

– Beginning of the section

Problems Mango did not face. According to The Wall Street Journal Alibaba and Ma have been asked to remove ownership positions in media companies. The reason is that the influence of the mango and technology company is increasing the influence of the general public, according to newspaper sources.

Mao personally bought the English language Hong Kong newspaper South China Morning Post in 2016, but transferred the rights to Alibaba once the transaction was completed. The newspaper has previously criticized China, but this has been drastically reduced since the change of ownership.

It could get worse. China has hit out at the media in Hong Kong. International media outlets have moved reporter offices from the former British colony to Taiwan and South Korea.

It is speculated that the 117-year-old newspaper may have been taken over by a state-controlled media group that once owned News Corp’s media grandson, Rupert Murdoch.

“Officials have sharpened their approach to the Alibaba group. Sales of media outlets are probably part of this. This could be the beginning of the group’s division, including the media,” said a source close to the Japanese business newspaper and regional officials. Nikki.

– It was scary

Alibaba has a key role to play in Weibo, a service like Chinese Twitter. Weibo is said to have deleted a number of reports about the scandal surrounding Alibaba director Jiang Fan’s wife. Weibo threatened another woman to “stay away from the man”.

Many commentators who are considered supporters of the Communist Party have argued that technology companies holding ownership positions in the latest and traditional and new media should be further drastically reduced.

“How quickly the records were removed was completely unique. It was frightening. The country must understand what is happening and prevent it. Everyone can use the power that is in the capital, but the enemy can also use it,” wrote economic commentator Chang Qinghui in the Global Times.

Posts on social media in China are blocked and removed by companies and officials in everything that is considered controversial. Facebook, Twitter, Google, YouTube and other Western Internet services have been blocked in China.

Bernstein points out that Tencent’s top manager Bonnie Mae has a much lower public profile than Alibaba’s top manager, which will help Tencent cross the storm.(Terms)Copyright Dugens Noringslive AS and / or our suppliers. We want you to share our cases using the link that guides our pages directly. Copying all or part of the Content or any other type of application may take place only with written permission or by law. For additional terms Check it out here.