Edit and translation: Jenny Ball
Editor: peacelv

A sad year for Jack Ma

From the end of 2020, Founder of Alibaba, Jack Ma is in trouble. On November 2, 2020, Jack Ma was interviewed by the four major financial regulators, and then the listing plan of its subsidiary Ant Group was urgently suspended. Jack Ma himself disappeared for a long time, during which time Alibaba was fined 18.2 billion RMB for violating the Anti-Monopoly Law. Lakeside University, the business school he founded four years ago, was also closed.

Reuters once reported that Jack Ma’s meeting with then-U.S. President Trump as early as January 9, 2017 dissatisfied the high level of the CCP. Jack Ma promised to create one million American jobs at the time. Beijing is dissatisfied because the government has not approved Jack Ma to do so. Although Jack Ma viewed his meetings with foreign politicians as China’s “unofficial diplomacy.”

The Wall Street Journal revealed that behind the complex equity structure of Ant Group, there are hidden political families that may pose potential challenges to Xi Jinping and his cronies, including Jiang Zhicheng, the grandson of Jiang Zemin, who participated in the founding of Boyu Capital, and Li Botan, son-in-law of Jia Qinglin, the former Politburo Standing Committee member who controls Beijing Zhaode Investment Group.

In addition, the CCP has always wanted to obtain valuable user’s data from Jack Ma.

Until late October, Jack Ma started to appear in Hong Kong, Spain and the Netherlands, and his media outlets disclosed his itinerary to inspect European agriculture.

Jack Ma seemed completely free, but the authorities completely controlled him. All of Jack Ma’s families and relatives, his assets in China, including those in Hong Kong, have become hostages of the CCP. His overseas tours are indeed for him to hand over his overseas assess and the financial transaction data of the Ant Group to the CCP’s Central Bank.

In late September, Ant Group disclosed that the credit data generated by its popular consumer loan service “Huabei” was fully integrated into the credit investigation system of the CCP’s Central Bank. Prior to this, sharing user information with the government has always been the core issue of the stalemate between Jack Ma and the authorities.

After Xi Jinping made a high-profile push for “Common Wealth,” Alibaba and a number of Internet giants have donated huge sums of money on many occasions. In one case, Alibaba promised to invest 100 billion RMB in charity.

The CCP upgraded to establish the National Anti-Monopoly Bureau on November 18. Two days later, it imposed heavy fines on Alibaba and others for violating the Anti-Monopoly Law. Alibaba was fined more than 5 million RMB.

For Jack Ma now, his priority and the only thing is to save his life.

How about the fate of CEO of Evergrande, Mr Xu jiayin? we’ll see in the next section of the article.

Please read the other sections of this important news:
Inside stories of CCP’s Five of political scandals in 2021(1/4)
Inside stories of CCP’s Five of political scandals in 2021(3/4)
Inside stories of CCP’s Five of political scandals in 2021(4/4)

Source of the article: hk.epochtimes.com