Speaking at a forum attended by some of China’s most powerful figures in politics and finance, Ma heavily criticized the “pawnshop mentality” of Chinese banks, and accused global authorities’ old-school financial regulation of slowing down innovation. The criticism eventually reached Chinese president Xi Jinping, who was furious about the remarks and personally ordered the suspension, according to the Wall Street Journal.
https://qz.com/1946723/theres-no-place-for-a-jack-ma-in-toda...
A couple of other interviews he’s been hammering away at the stagnant (according to him) Chinese banks, and the regulators basically snuffed him by forcing his Ant payment group to ‘stick to just payments’ (he wanted it to give loans via the system, becoming a type of bank in itself).
^ I can see how they would be afraid of this. I think Alibaba is trying to force sellers to only sell on Alibaba exclusively (not allowing them to sell on other sites if they want to sell on Alibaba). If Alipay gives loans, I could see how Ma might make it so that available credit is usable on Alibaba only, further tightening the hold. Jack Ma might be the one trying to be monopolistic here, but I’d love for someone with first-hand experience to speak to what’s going on over there.
Or maybe we’re all just sheep and Chinese insiders know how to shift stock prices with nonsense because they can and buy up shares. Those companies are increasingly being listed on global markets and all the CCP has to do is breath ‘eh, maybe no capitalism’, and the stocks move. SEC can’t stop that.