Beijing Tightens Grip on Ant Group, Ma’s Empire

[claireokc]

Commentary The future of Ant Group, the Chinese fintech giant affiliated with Jack Ma and partially owned by internet giant Alibaba, grows cloudier by the month. The Chinese regime’s top anti-graft watchdog—Central Commission for Discipline Inspection (CCDI)—is directly involved in a recent inquiry into Ant’s relationship with state-owned enterprises, a Bloomberg report noted, citing people familiar with the proceedings.  The involvement of the CCDI, a much-feared Chinese Communist Party (CCP) organ typically overseeing corruption investigations of senior CCP officials, could escalate the risks surrounding Ant, its billionaire founder Jack Ma, and its biggest shareholder, Alibaba Group. Specifically, the CCDI was looking into transactions between Ant and state-controlled entities including banks and government agencies.  ...

Source: https://www.theepochtimes.com/beijing-t ... 14920.html