The Shanghai Stock Exchange cited significant change in regulatory environment for halting Ant IPO. But China watchers have an alternative theory for why Xi’s govt acted the way it did.
Timing of move to suspend Ant Group IPO, touted to be world's biggest stock market debut, showed that for Xi, political stability take precedence over ceding control of economy.
The move comes after China’s regulators warned that Jack Ma’s firm faces increased scrutiny and will be subject to the same restrictions on capital and leverage as banks.
Ant Group stopped taking orders from big investors a day earlier than planned due to great demand. But a smash-hit IPO doesn’t always translate into a long-term winner for investors.
Ma's Chinese fintech giant is one of the most hotly anticipated IPOs in years, on course to make history by surpassing Saudi Aramco’s record $29 billion share sale in 2019.
Jack Ma’s Ant Group listing is expected to be so popular that Hong Kong brokers are offering mom-and-pop investors 20 times leverage to buy the shares, with only 5% cash as a down payment.
People in the West still argue that the Communist Party’s role in China’s private companies is merely a formality. But in the Xi Jinping era, nothing could be further from the truth.
Discussions around payment platforms of Ant Group, Tencent have been held up in part by debate over what authority govt would use to restrict them & how quickly measures could be implemented.
The dynamics between Europe and Russia have gone so south that mending fences looks like an uphill task—even as the US swings between sanctions and olive branches.
Centre for Science and Environment in new report makes case for rationalising GST on waste material, saying most informal operators can’t afford high tax & it also hinders recycling.
21st edition of annual joint military exercise will be held from 1 to 16 September, aimed at sharing military tech, operational best practices & disaster relief coordination methods.
Standing up to America is usually not a personal risk for a leader in India. Any suggestions of foreign pressure unites India behind who they see as leading them in that fight.
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