Business
Jack Ma rails against global financial regulations ahead $30bn Ant IPO – Financial Times
Basel rules were designed in era that is less relevant to China’s future, Alibaba founder says
Alibaba founder Jack Ma blasted international financial regulations and said China needed to chart its own path, days before Ant Group launches the world’s biggest initial public offering.
“The Basel Accords are like an old people’s club . . . we can’t use yesterday’s methods to regulate the future,” Mr Ma said at a conference in Shanghai on the weekend, referring to the international banking supervision framework.
Mr Ma said the challenges the rules were designed to resolve were not relevant to…
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