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New Enforcement Actions and Proposed Laws Signal A New Era for China's Internet Giants

Posted by John Chan | Dec 16, 2020
A series of enforcement measures and proposed laws have drawn heightened attention to Beijing’s plans to rein in and remake the environment for big tech in China. Taken together, they reveal an unprecedented willingness by the Chinese government to take on tech giants that have previously gone largely unchecked, forcing them to toe the Party line and also to protect consumer interests and privacy to a degree previously unseen.
Since the summer, regulators have signaled growing concern about monopolistic practices in China’s technology sector. In November, the announcement by China’s market regulator of new measures to curb tech monopolies brought its priorities fully into view. This week it took action, fining three companies for improper reporting of acquisitions for regulatory approval. SupChina’s Lucas Niewenhuis ....

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China's Ant Holds 'Self-Review' After $35B IPO Collapse

China's Ant Holds 'Self-Review' After $35B IPO Collapse
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Ant Conducting 'Self-Review' After $35 Billion IPO Collapses

Bloomberg News, Bloomberg News
The Ant Group Co. mascot is displayed at the company s headquarters in Hangzhou, China, on Monday, Sept. 28, 2020. Jack Ma s Ant Group is seeking to raise $17.5 billion in its Hong Kong share sale and won t seek to lock in cornerstone investors, confident there will be plenty of demand for one of the largest equity deals in the financial hub, according to people familiar with the matter.
, Bloomberg
(Bloomberg) Ant Group Co. Chairman Eric Jing has emerged contrite and apologetic from the collapse of the fintech giantâs $35 billion initial public offering.
The company is âlooking into the mirror, finding out our shortcomings, and conducting a body check-up,â Jing said in a speech at the 4th China Internet Finance Forum on Tuesday. Ant is striving to âproperly manageâ issues related to the suspension of the IPO, he said. ....

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Eric Jing | Benzinga

Moneygram International Inc (NASDAQ: MGI) shares are up 9.0 percent on Thursday after Alibaba Group Holding Ltd (NYSE: BABA) payment affiliate Ant Financial agreed to purchase MoneyGram for $880 million. The merger is the latest step in Alibaba’s international expansion efforts. According to. Read More.
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Ant conducting 'self-review' after US$35b IPO collapses

Ant conducting 'self-review' after US$35b IPO collapses
businesstimes.com.sg - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstimes.com.sg Daily Mail and Mail on Sunday newspapers.

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