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Tag: bejing (page 1 of 1)

Jack Ma “lying low” says Alibaba executive

Alibaba’s executive vice-chairman and co-founder Joe Tsai said that Jack Ma is lying low and focusing on personal hobbies and philanthropy. Since last year’s criticism by Ma of China’s regulatory system, he has been out of public view. Beijing enforced restructuring on the Ant group. In April Alibaba was charged with a $ 2.8bn fine for anti-competitive business practices. Jack Ma stepped down from Alibaba in 2019 but has had huge influence on investors.

Bejing would rather see TikTok USA close than a forced sale

China would prefer to see the short video app TikTok shut down its operation in the USA, rather than a forced sale by the Trump administration, reported Reuters. The news report, quoting three people with direct knowledge of the matter, said that Bejing believes a forced sale would make China appear weak. Microsoft and Oracle are in talks with Bytedance for the purchase of TikTok assets in the USA.  Trump’s deadline for sale will end in mid-September.

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