China accelerates plans to put a leash on its internet giants

It all started when China’s poster boy Jack Ma, founder of Alibaba and one of the richest men in China, took a shot at the Chinese financial regulator at a global conference. Ma pointed out some risks and ill-practices of the Chinese financial system which the government did not take lightly. Since then, the e-commerce giant is being shot one curveball after another. ANT Group, the parent company of Ma’s most prized ventures, was supposed to go public this month. But now the process of getting listed in Shanghai and Hong Kong Stock Exchange, according to several industry insiders, has…