Heard on the Street: A tougher regulatory approach—and probably slower growth—now look inevitable for Ant Group
Chinese billionaire Jack Ma, once the richest man in the country, has resurfaced after being out of the public eye for months. But his real troubles—and those of his business empire—may be just beginning.
of e-commerce giant Alibaba , another company in Mr. Ma’s empire, last month.Investors took Mr. Ma’s reappearance as an auspicious sign—Alibaba’s Hong Kong-listed shares jumped 8.5% Wednesday. They may have inferred that Mr. Ma is now back in Beijing’s good graces and the regulatory storm will be over. But there doesn’t seem to be a letup: on the same day Mr. Ma made his public appearance, China’s central bank released draft rules governing nonbank payment systems, in which Ant’s Alipay is a major player.
There are still uncertainties about what some of the draft rules mean. The rules, for example, say if two players have more than half of the nonbank payment markets—Alipay and Tencent’s WeChat Pay dominate China’s mobile and internet payments—then the central bank would hold talks with the companies. It’s unclear what the exact consequences or remedies would be after such warnings, though. The rules also seem to use a broader definition of market—possibly including some traditional payment channels—to determine whether a payment company is market-dominating.Read more: The Wall Street Journal »
Pickle-Brined Fried Chicken Recipe
This extra-crispy, super-tender fried chicken is irresistible, thanks to a buttermilk and pickle juice marinade and a crunchy paprika-spiked coating.
Political will to fight corruption and Crony Capitalism Didn't the US and the EU also try to break up Google companies to prevent Google monopolies? They say why he disappeared for awhile? Lol just wondering since they blasted his disappearance so much, I wanna know what he was doin this whole time lol! Better of been some cool shit!
good luck If I was jack ma I’d get the hell out of China