China’s government has asked Alibaba Group to dispose of its media assets, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.
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China’s top leader has warned that Beijing will go after so-called “platform” companies, a sign that the months-long crackdown on the country’s Internet sector is only just beginning.
Pony Ma’s Tencent Holdings has been put on notice. Asia’s largest conglomerate was censured by China’s antitrust watchdog on Friday as Beijing expands a crackdown that began with Jack Ma’s online empire.
Sea Ltd is one of those companies you either know, or you’ve never heard of. And investors the world over will be kicking themselves for missing the massive run-up in its stock.
Tencent Holdings on Wednesday named 37 companies it had blacklisted from future contracts and said it has fired more than 100 staff over embezzlement and bribery incidents.
Alibaba and Ant co-founder Jack Ma has resurfaced after months out of public view, quashing intense speculation about the plight of the billionaire grappling with escalating scrutiny over his Internet empire.
The Trump administration is considering adding tech giants Alibaba and Tencent to a blacklist of firms allegedly owned or controlled by the Chinese military, two people familiar with the matter said.
Tencent joined much of China’s Internet sector in a $290-billion selloff on Wednesday after Beijing signalled its strongest intentions yet to rein in Big Tech. Yet it’s in some ways better shielded than its peers.
The mid-level bureaucrats left China’s richest man waiting as they prepared for a meeting that would send shockwaves across the financial world.
Two weeks ago, Jack Ma somehow found the time to opine on China’s banking system at a high-profile financial forum in Shanghai, once again throwing himself into the eye of the storm. That’s now costing him big time.