China Called Finance Apps the Best Thing Since the Compass. No Longer.
Beijing’s tech crackdown could imperil the innovation that brought modern finance to underserved people — but also led to concerns about reckless lending and borrowing. Source
Beijing’s tech crackdown could imperil the innovation that brought modern finance to underserved people — but also led to concerns about reckless lending and borrowing. Source
Jack Ma, the most famous businessman China has ever produced, is avoiding the spotlight. Friends say he is painting and practicing tai chi. Sometimes, he shares drawings with Masayoshi Son, the billionaire head of the […]
Ant Group, the online finance affiliate of the Chinese e-commerce giant Alibaba, announced a sweeping overhaul of its business on Monday in response to demands from China’s government, which is moving swiftly to curb the […]
WASHINGTON — President Trump on Tuesday signed an executive order prohibiting transactions with eight Chinese software applications, including Alipay, the payment platform owned by Ant Group, and WeChat Pay, which is owned by Tencent. The […]
Chinese regulators on Sunday ordered the financial-technology giant Ant Group to fix what they described as a litany of business failings, escalating a pressure campaign that has been building since the government abruptly halted the […]
The Alibaba chief paid for pushing back against Beijing. But the shift in attitude also speaks to a growing wealth gap and diminished opportunities for the young. Source
This was supposed to be the week that one of China’s biggest tech companies threw the most lucrative coming-out party in history, sending a swaggering message about the country’s economic might during the pandemic. Instead, […]
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