Chinese financial scholar He Jiangbing analyzed, “I think it is possible to fine, but as
- 自由 亚洲 电台 (@RFA_Chinese)
March 12, 2021
Where are Internet companies heading?
Xiao Yunjun, a Chinese private entrepreneur living in the United States, believes that the recent centralized rectification of Internet companies by the Beijing authorities did not begin with a single person, but reflects a regulatory trend.
"In fact, this is not related to Ma Yun’s personal reasons, because Ma Yun also knows how to adapt to the Chinese environment, and he understands the routines. The key to the problem lies not in him, but the Chinese government through this kind of warning and threats. Internet companies are nationalized."
Chinese Premier Li Keqiang emphasized in his government work report last week that while supporting the innovative development of platform companies, the state must also regulate development in accordance with the law. The authorities must also strengthen anti-monopoly and prevent disorderly expansion of capital.
"This self-discipline standard is related to the requirements of the one party, two meetings, and the four major regulatory agencies of the Foreign Exchange Bureau. Ant Group is implementing their rectification plan. I predict that in the future, all Internet financial technology companies will even form a self-discipline. association."
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