The founder of the Alibaba group, Jack Ma, who has been the ideal of millions of people around the world, has been missing for two months, when the Chinese government has remained silent, while the market for speculation is hot, according to the US newspaper report, the Chinese government sent Jack Ma to consumers. Beijing wanted to take data
Jack Ma, founder of China’s third-biggest billionaire and founder of millions of people around the world, has been missing for two months. The Chinese government has been silent on the whereabouts of Jack Ma as the speculation market is hot around the world. According to a report by the US newspaper Wall Street General, the Chinese Communist government wanted Jack Ma to take consumer data, which is a valuable asset for the founder of Alibaba.
The Chinese government was tying Jack Ma for consumer data, which it had long opposed. In fact, the Chinese financial regulator wanted Jack Ma’s Ant Group company to transmit consumer credit data to its millions of customers. Jack Ma had very few options after this pressure from Chinese regulators and a dispute with President Xi Jinping. According to the report, Chinese officials said the Chinese government was concerned that Jack Ma wanted to continue growing his business, but was less focused on controlling the financial threat the country is targeting.
Jack Ma missing: the founder of Alibaba billionaire Jack Ma, missing for two months, confrontation with the Chinese president heavy?
“ Ant Group takes a bad advantage in business with the help of personal data ”
Chinese regulators have said Ant Group is leveraging it in business with the help of personal data. Jack Ma used to get loans to people through his Alipay app and make money as a middleman when all the risk of the loan came from the banks. About 500 million people use this app. Jack Ma has comprehensive data on his borrowing habits, borrowing trends, and loan repayments.
According to government officials, Jack Ma benefited from this business model, but it could threaten China’s financial system. Chinese officials then tried to change Jack Ma’s business model and wanted to break their monopoly on data. However, Ant Group has not yet made a statement on this subject. Jack Ma is said to have refused to give the data.
China: Not only Jack Ma, many billionaires have also visited Xi Jinping’s cruelty in the past
Jack Ma had sharply criticized financial regulators and Chinese state-owned “interest-bearing” banks in a speech in Shanghai in October last year. Jack Ma called on the government to change the system to “remove the effort to introduce new things into the business.” He called global banking rules a “club for the elderly”. The ruling Chinese Communist Party erupted after this speech. Jack Ma’s criticism was seen as an attack on the Communist Party. After that, Jack Ma’s woes began, and extraordinary restrictions were placed on his business.
Strict action by order of Chinese President Xi Jinping
In November, Chinese authorities dealt Jack Ma a hard blow and suspended his $ 37 billion Ant Group IPO. According to a Wall Street General report, the order to cancel the IPO of Jack Ma’s Ant Group came directly from Chinese President Xi Jinping. On Christmas Eve, Jack Ma was then asked not to leave China until the ongoing investigation against his Alibaba group was completed.
Billionaire Jack Ma has been missing for two months in China