PODCAST: Ant Group and Tencent slapped with fines, and Freshippo steps up for IPO
By Doug Young & Rene Vanguestaine
China’s central bank has slapped major fines on Ant Group and Tencent, including a nearly $1 billion fine on Ant, operator of Alipay. Is this the start of a new round of big fines on China’s big tech? Or does it mark the end of a recent storm of regulation that began after outspoken Alibaba founder Jack Ma criticized the government? And Freshippo opens 12 new stores, as the supermarket chain owned by Alibaba revs up for an IPO by the end of this year. Will investors really buy into the company’s high-tech story, or will it become just another WeWork — a traditional company dressed up in high-tech clothing?
About China Inc
China Inc by Bamboo Works discusses the latest developments on Chinese companies listed in Hong Kong and the United States to drive informed decision-making for investors and others interested in this dynamic group of companies.
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