[ad_1]
Jack Ma, a Chinese billionaire, is rumored to have been missing for more than two months. The man who managed to become one of China’s richest people has reportedly not appeared in public since November 2020.
Before his whereabouts were unknown, Jack Ma had criticized the Chinese government, enraging President Xi Jinping.
So far there has been no recent news to explain where Jack Ma has been. Abandoned for two months, here are three facts.
1. Criticize Jack Ma
Jack Ma’s criticism was related to China’s financial system. He conveyed this criticism during a speech at the Bund Summit, an event in Shanghai attended by hundreds of bankers and representatives of the Chinese government in October 2020.
The criticisms he made were quite harsh. In his speech, Jack Ma considered that China’s financial system was outdated. This reportedly angered the Chinese government.
Quoted by the South China Morning Post (SCMP) on November 18, the criticism prompted President Xi Jinping to order an initial public offering o initial public offering (IPO) ANT Group canceled.
At the time, Jack Ma was proposing an initial public offering for ANT Group, a subsidiary of Alibaba Group that offers a comprehensive online payment service. Now, ANT Group has not officially taken the floor on the Shanghai and Hong Kong stock exchanges.
Returning to his speech, Jack Ma’s criticism was directed at financial regulators, pawn shops and also state banks. Jack Ma compares the Chinese financial system called Bassel Accords to the “parent club” because it was created by a group of parents.
He also questioned whether the system was still useful amid today’s rapidly developing technology. Growing hotter, Jack Ma says that China’s financial system is a poorly treated disease.
“Symptoms of Alzheimer’s disease and polio may be similar, but they are completely different diseases. If a child is given Alzheimer’s disease drugs to cure polio, there will be many problems,” Jack Ma was quoted as saying. SCMP on November 18, 2020.
“The Basel Accords aim to treat the ailments of the old banking system, a cure for the elderly, but the financial system in China is still young,” continued Jack Ma.
Continue to the next page.
