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  1. #1
    Thailand Expat misskit's Avatar
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    China Moves Towards Nationalization With Probe Into Alibaba

    The ruling Chinese Communist Party (CCP) has taken further steps to curb e-commerce giant Alibaba with the launch of an antitrust investigation into the tech company headed by tycoon Jack Ma.


    "Based on tip-offs received by the State Administration for Market Regulation in recent days, the administration will be investigating Alibaba ... for suspected monopolistic activities," the administration said in a statement on its website.


    The statement was reportedly linked to a policy forcing sellers using Alibaba.com to commit to using that platform exclusively, preventing them from also using rival platforms JD.com and Pinduoduo.


    Alibaba issued a statement saying it would actively cooperate with the regulatory body, and that company operations would continue as normal.


    The news prompted an eight percent fall in the value of the company's shares on the Hong Kong Stock Exchange on Thursday.


    The announcement came amid ongoing scrutiny by financial market regulators of Ma's Ant Group, which runs the Alipay payments system.


    "Today, Ant Group received a meeting notice from regulators," the company said in a statement on Thursday.


    There are indications that the decision to go after Ant and Alibaba is coming from highest echelons of the CCP leadership.


    'Anti-monopoly work'


    An article in the CCP's official mouthpiece, the People's Daily, touted "anti-monopoly work" as leading to "better development," based on recent calls from the CCP's Politburo.


    The Politburo was of the opinion that the government should "strengthen anti-monopoly work and prevent the disorderly expansion of capital," the paper said.


    Internet finance industry insider Song Qing said the investigation is part of CCP plans to nationalize both Ant Group and Alibaba.


    "There will definitely be an outcome, now that they have started the investigation," Song told RFA. "This is probably coming from the highest levels."


    "Just a couple of weeks ago, they set out plans to nationalize Ant Group and Alibaba; the timing was deliberate," Song said. "Those plans all came from the central leadership."


    "These nationalizations are definitely happening, and [the antitrust investigation] will likely speed up that process," Song said. "It's also, I think, about making an example of [Ant and Alibaba]."


    Central government investigators had already set up camp in Alibaba headquarters by the end of November, according to industry sources.


    The company will also be called to follow-up meetings with the People's Bank of China, the China Banking Regulatory Commission, the China Securities Regulatory Commission and the State Administration of Foreign Exchange after regulators slammed the brakes on Alibaba's New York listing in early November.


    Investigative teams are also in place at the offices of social media giant Tencent and e-commerce company Meituan.


    Healthy development


    A Nanjing-based economist surnamed Qian said China's tech companies actually promote economic health and development.


    "Tax rates for traditional businesses are too high, and online businesses have lower transaction costs, as well as being more convenient [for the customer]," Qian said. "The internet industry ... is actually a healthy thing for the market economy."


    Lin Jiaqi, director of Hong Kong Honghui Asset Management, said he expects that the Alibaba investigation will help the CCP to form future policy towards the country's tech giants.


    "I think the central government will keep going with more investigations of other companies," Lin said. "We will see more and more antitrust investigations, and the sanctions for [alleged] monopolies will gradually increase."


    State media have been keen to paint the government's targeting of Ma's tech empire as a campaign to subject the nation's super-rich to public scrutiny and regulation.


    "They are targeting this huge company ... because they want people to hate the super-rich," commentator Guan Xingwang told RFA.


    "They are using this propaganda to justify expanding state control of the economy, and diminishing the power of the private sector," he said. "This is another step towards nationalization."


    CCP general secretary Xi Jinping unveiled plans at the end of October to move China to a state-controlled, "circular" economy based on domestic demand, and away from the export-based model that has fueled rapid growth since 1979, when late supreme leader Deng Xiaoping ushered in four decades of market-based economic policy.


    Analysts have said there a widespread expectation that Xi will move to change the current system of property ownership.



    China Moves Towards Nationalization With Probe Into Alibaba — Radio Free Asia

  2. #2
    Thailand Expat harrybarracuda's Avatar
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    But really it's just Mr. Shithole being a dictator again to settle a personal grudge.

    The scrutiny has arisen out of a personal discord between Chinese president Xi Jinping and Jack Ma.
    Coincidentally, the halting of the IPO came only days after Ma launched a public attack on Chinese regulators and therefore, also insulting President Xi during a public address.
    Why Xi Jinping govt is after Alibaba and Jack Ma, the poster boy of China's tech dreams - The Week

  3. #3
    Thailand Expat
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    Quote Originally Posted by harrybarracuda View Post
    But really it's just Mr. Shithole being a dictator again to settle a personal grudge.
    Which is a good thing, I believe. It undermines the chinese power rise.

  4. #4
    Thailand Expat harrybarracuda's Avatar
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    Quote Originally Posted by Takeovers View Post
    Which is a good thing, I believe. It undermines the chinese power rise.
    Not if they take it away from Ma and operate it as a protected state enterprise it doesn't, silly.

  5. #5
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    Quote Originally Posted by harrybarracuda View Post
    Not if they take it away from Ma and operate it as a protected state enterprise it doesn't, silly.
    Do you seriously anticipate the state can run this or any business better than the private owners? Bring all those businesses back under direct state control and the economy will tank.

  6. #6
    Thailand Expat harrybarracuda's Avatar
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    Quote Originally Posted by Takeovers View Post
    Do you seriously anticipate the state can run this or any business better than the private owners? Bring all those businesses back under direct state control and the economy will tank.
    What are you on about? Why would it tank when the chinkies exclude any serious foreign rivals from competing with it?

    I mean the article spells it out.

    Internet finance industry insider Song Qing said the investigation is part of CCP plans to nationalize both Ant Group and Alibaba.

  7. #7
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    Quote Originally Posted by Takeovers View Post
    Do you seriously anticipate the state can run this or any business better than the private owners? Bring all those businesses back under direct state control and the economy will tank.
    The state might not even want to run the company better than private owners. It might just want to turn it into a multi-tool for a variety of purposes like population surveillance and intellectual property theft. They've already started: How China's Tech Giants Like Alibaba, Tencent, and Baidu Aid Spy Agencies

  8. #8
    Thailand Expat Backspin's Avatar
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    Quote Originally Posted by harrybarracuda View Post
    But really it's just Mr. Shithole being a dictator again to settle a personal grudge.


    Why Xi Jinping govt is after Alibaba and Jack Ma, the poster boy of China's tech dreams - The Week
    In China, billionaires have no place in politics.

    Anyway Google and Amazon are also facing monopoly charges in the US

  9. #9
    Thailand Expat Backspin's Avatar
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    Quote Originally Posted by Takeovers View Post
    Do you seriously anticipate the state can run this or any business better than the private owners? Bring all those businesses back under direct state control and the economy will tank.

    That's a nice ideological take that I used to believe in. But no. There are some well run state owned companies around the world. You cant really write them off ideologically.

  10. #10
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    Based on plain common sense, I do not believe this is a move toward nationalization. If the CCP is standing up to Big Biz, rather than being dominated by it, we have much to learn from China. Interesting to see what ensues.

  11. #11
    Thailand Expat harrybarracuda's Avatar
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    Quote Originally Posted by sabang View Post
    Based on plain common sense, I do not believe this is a move toward nationalization. If the dictator Mr. Shithole is standing up to Big Biz, rather than being dominated by it, we have much to learn from Mr. Shithole. Interesting to see what ensues.
    FTFY.

    Yes, it is interesting to see what a dictator can do when someone puts his nose out of joint.

  12. #12
    Thailand Expat OhOh's Avatar
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    Quote Originally Posted by Takeovers View Post
    Do you seriously anticipate the state can run this or any business better than the private owners?
    The very successful Chinese companies will continue offering and delivering products and currently financial services.

    They will not be allowed to take over the place of the Chinese Central Bank.

    You may conclude the "financial services" are the issue of discussion.

    There are many articles on Digital Yuan here are three:

    China to usher in a new digital renminbi era in 2021

    China to usher in a new digital renminbi era in 2021 - Global Times



    Digital yuan parades its strengths during trial


    Source: Xinhua| 2020-12-28 23:36:36

    Xinhua Headlines: Digital yuan parades its strengths during trial - Xinhua | English.news.cn


    China’s Economy of Peace

    China’s Economy of Peace | New Eastern Outlook


    Find your own. (Google produces About 138,000,000 results in 0.43 seconds.)

    Don't rely on MK's RFA propaganda.

    The reasons for this move are illustrated, the advantages for Chinese and foreigners, along with in my opinion, some disadvantages.
    Last edited by OhOh; 29-12-2020 at 01:06 PM.
    A tray full of GOLD is not worth a moment in time.

  13. #13
    กงเกวียนกำเกวียน HuangLao's Avatar
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    Quote Originally Posted by sabang View Post
    Based on plain common sense, I do not believe this is a move toward nationalization. If the CCP is standing up to Big Biz, rather than being dominated by it, we have much to learn from China. Interesting to see what ensues.
    I'm of the opinion that these actions are nothing but show - politics and personal noses outta joint.
    Little will truly come of the usual rhetoric being displayed by the government.......in the end, business as usual prevails.


    Comparative example might be be The U.S. Government's current and whimsy-like pursuit of antitrust legalities as such applies to Amazon.com.

    If one observes closely and objectively, you'll find that the grand power keepers of the U.S. and China [among other influential locales] are much similar as to how their corrupt oligarchs function than not.

  14. #14
    Thailand Expat harrybarracuda's Avatar
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    Quote Originally Posted by HuangLao View Post
    I'm of the opinion that these actions are nothing but show - politics and personal noses outta joint.
    When it's Mr. Shithole's nose being put out of joint, once fancies there will be a price to pay.

    I mean you can be jailed in Chinastan just for having this amusing picture of him.


    China Moves Towards Nationalization With Probe Into Alibaba-lqdfdxxvfqms7kyq9y1frgcqzdce23umplcxfqo_oye-png

  15. #15
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    Quote Originally Posted by harrybarracuda View Post
    But really it's just Mr. Shithole being a dictator again to settle a personal grudge.
    Quote Originally Posted by Backspin View Post
    In China, billionaires have no place in politics.


    He's also a billionaire

  16. #16
    Thailand Expat harrybarracuda's Avatar
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    Quote Originally Posted by panama hat View Post

    He's also a billionaire
    And probably worth a bit more by the time he's robbed a good wad off Ma.

  17. #17
    Thailand Expat Saint Willy's Avatar
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    Quote Originally Posted by misskit View Post
    policy forcing sellers using Alibaba.com to commit to using that platform exclusively, preventing them from also using rival platforms JD.com and Pinduoduo.
    that’s a serious power grab! Amazon and Facebook would be dribbling at the thought of being able to try that...

  18. #18
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    Quote Originally Posted by harrybarracuda View Post
    I mean you can be jailed in Chinastan just for having this amusing picture of him.
    Nothing so unusual also in other country(ies) (please no names here). But nobody is outraged about it, in contrary... (but that's not so interesting to highlight it for our unbiased MoD, is it?)

  19. #19
    Hangin' Around cyrille's Avatar
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    Quote Originally Posted by Klondyke View Post
    Nothing so unusual also in other country(ies) (please no names here).
    Aaaand here we go again for the thousandth time....

    ...............


    THIS thread is about China and Alibaba.

    And no, no other country is rumoured to be considering nationalising their equivalent.

  20. #20
    Thailand Expat Backspin's Avatar
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    Quote Originally Posted by panama hat View Post

    He's also a billionaire
    Yeah yeah. It's disputed. Some sources say his net worth is 1.3 million. Xi Jinping Net Worth 2020 | The Net Worth Portal

    The Western propagandists probably just added a zero to this number and that's how they come up with 1 billion

  21. #21
    Member TheMadBaron's Avatar
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    Quote Originally Posted by Backspin View Post
    Some sources say his net worth is 1.3 million.

    The Western propagandists probably just added a zero to this number and that's how they come up with 1 billion
    So, maths isn't your strong point, then?

  22. #22
    Thailand Expat helge's Avatar
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    Pedant !

  23. #23
    Thailand Expat Saint Willy's Avatar
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    Superfluous space before the exclamation mark!

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    Quote Originally Posted by Backspin View Post
    Yeah yeah. It's disputed. Some sources say his net worth is 1.3 million. Xi Jinping Net Worth 2020 | The Net Worth Portal

    The Western propagandists probably just added a zero to this number and that's how they come up with 1 billion
    Math isn't my strong point either. How many zeros would that be now?

  25. #25
    Member TheMadBaron's Avatar
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    Quote Originally Posted by TTraveler View Post
    Math isn't my strong point either. How many zeros would that be now?
    Oh, God....

    Well, you're not going to arrive at a billion by adding zeros to 1.3 million unless you throw away 300,000. After that, there's the matter of whether you're talking about your newfangled American billion, or your proper old-fashioned English billion. Fortunately, 10⁹ is now the standard in both British and American English. Even so, just to be awkward, I'm going to answer your question in an Irish accent.

    The answer is


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