Business
Communist China shows capitalist Ma who’s boss – The Australian Financial Review
China has shot itself in the foot by suspending the world’s biggest IPO at a time when it wants more foreign investors to park their capital in Shanghai and Hong…
China is showing Jack Ma who’s boss.
The decision to pull the world’s biggest IPO just two days before its estimated $52 billion debut on stock exchanges in Shanghai and Hong Kong looks like madness for any country trying to promote itself as a world-class financial hub.
But this is no ordinary country.
The suspension of fintech giant Ant Group’s listing follows a dressing-down for its founders and top executives by four of China’s top financial regulators on Monday.
While there are genuine concerns…
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