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    Home»Articles»Alibaba founder Jack Ma ends up in Japan after China crackdown
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    Alibaba founder Jack Ma ends up in Japan after China crackdown

    Premendra AgrawalBy Premendra AgrawalDecember 1, 2022Updated:February 2, 2023No Comments
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    London [UK]: Top Chinese billionaire Jack Ma and founder of e-commerce giant Alibaba, has been living in central Tokyo for almost six months, according to a report by the British daily Financial Times.

    Ma, who was once the richest business leader in China, shifted to neighbouring Japan, amid the Chinese government’s crackdown on the country’s technology sector and its most powerful businessmen, the report adds.

    Ma vanished from the public eye after he slammed Beijing Chinese regulators in 2020, accusing the state banks of having a “pawnshop mentality”. He even called for the introduction of bold new players that could extend China’s credit to the collateral poor.

    After the criticism, Ma’s Ant group and e-commerce giant Alibaba faced a series of regulatory hurdles.

    China launches antitrust probe into Jack Ma's Alibaba over monopoly allegations

    According to the Financial Times report, Chinese regulators called off Ant’s blockbuster USD 37 billion initial public offering and fined Alibaba a record USD 2.8 billion for antitrust abuses last year.

    In another report titled “CCP’s intimidating tactics against Technocrats and Big Businesses in China”, another publication Financial Post, said that the Chinese communist party in their quest to intimidate large-scale businesses and their founders.

    The party-cum-state, has begun its long-awaited crackdown on big businesses that refused to endorse the Party’s repressive policies, the report adds.

    It says the situation of Jack Ma is telling of the CCP’s tactics of intimidation through coercive means. According to the report, this has invariably caused fear amongst other business owners that had previously raised similar concerns.

    jack ma
    Pursuing the same method, China recently initiated a revision of Chinese law deeming certain practices deployed by large platforms such as Alibaba, Tencent, amongst others as illegal.

    The Chinese Communist Party (CCP) is reportedly in the process of imposing a USD 1 billion penalty on the degraded Chinese firm, making it the largest regulatory fine to ever be imposed, according to Financial Post.

     

    The post Alibaba founder Jack Ma ends up in Japan after China crackdown appeared first on NewsroomPost.

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    Premendra Agrawal
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    ModiMay Vaidik Netritva About - प्रेमेन्द्र अग्रवाल ने पत्रकारिता, कानून और वाणिज्य में स्नातक की उपाधि प्राप्त की। 1956 में छात्र संघ के महासचिव चुने गए दुर्गा लॉ एंड कॉमर्स कॉलेज, रायपुर में। उनके कुछ लेख छात्र जीवन में धर्म युग, हिंदुस्तान हिंदी साप्ताहिक आदि में और बाद में अंग्रेजी साप्ताहिक 'ऑर्गनाइजर' में भी प्रकाशित हुए। उन्होंने स्टूडेंट्स हिंदी साप्ताहिक 'बढ़ते चलें' का दिल्ली और बाद में रायपुर से प्रकाशन किया। वर्त्तमान में वे रायपुर से 1964 से हिंदी दैनिक "लोक शक्ति" का प्रकाशन कर रहे हैं। अक्टूबर 2020 से वे 'लोकशक्ति' मासिक भी प्रकाशित कर रहे हैं। लॉ ग्रेजुएट बनने के बाद उन्होंने सेल्स टैक्स और इनकम टैक्स ऑफिस में टैक्सेशन एडवाइजर के तौर पर प्रैक्टिस की। इसके बाद उन्होंने एक्सपोर्ट बिजनेस अपनाया। उन्होंने 1972 में इटली को cotton rags और बाद में ब्रिटैन को Neem Oil तथा Neem पाउडर का भी export किया। वे समय समय पर RSS, ABVP, Jan Sangh और VHPमें विभिन्न जिम्मेदारियां संभालते रहे हैं। प्रेमेन्द्र अग्रवाल से उनकी अपनी वेबसाइट: www.lokshakti.in पर संपर्क किया जा सकता है: Email: lokshaktidaily@gmail.com Twitter: @lokshaktiindia Ku app: @lokshaktidaily Facebook: @lokshaktidaily Instagram: @lokshaktidaily

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