China orders Alibaba founder Jack Ma to rectify ‘illegal activities’


Source: china-underground.com china-underground.com

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> China orders Alibaba founder Jack Ma to rectify ‘illegal activities’ China orders Alibaba founder Jack Ma to rectify ‘illegal activities’ December 29, 2020 Central Bank of China says the governance of the Ant Group is unreliable and that “illegal activities” need to be rectified. The Chinese government, which ordered an investigation into allegations of “monopoly practices” by Alibaba on Christmas Eve, has now ordered financial technology company Ant Group to scale back its operations. According to Pan Gongsheng, a deputy governor of China’s central bank, Ant’s corporate governance is “unhealthy” and has ordered it to “go back to basics”...