On the eve of Ant listing, Jack Ma was interviewed by China’s financial management department | TechNews

According to the official website of the China Securities Regulatory Commission, the People’s Bank of China (Central Bank), the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission and the State Administration of Foreign Exchange conducted Supervisory interviews with the Ant Group’s royal controller Ma Yun, Chairman Jing Xiandong and Chairman Hu Xiaoming the latter.

The China Securities Regulatory Commission did not explain why Ma Yun and others were interviewed, but Ma Yun publicly criticized China’s financial supervision system on 24 last month and was portrayed as a hard-working Chinese vice president Wang Qishan. China’s top four financial management departments are making big moves right now for joint talks, which will inevitably hit Ant’s trading on the 5th.

The initial public offering (IPO) of Ant Technology Group, which is held by Alibaba, has recently received unprecedented enthusiasm in the market. It will be listed in Shanghai and Hong Kong simultaneously on the 5th. It plans to raise approximately $ 34.4 billion and the scale of the fundraising has turned into a global IPO. First place.

The industry had been optimistic that the share price would rise sharply on the first day of trading. But tonight it was reported that Jack Ma and others were being interviewed, causing a shock to the market.

Xinhua News Agency reported that at the Bund Financial Summit on October 24, Wang Qishan warned in a film speech that in recent years, new financial technologies have been widely used and new business formats have emerged in an endless stream, which has brought convenience to efficiency improvement and has also caused financial risks. enlarge.

Wang Qishan said that there are ideals but not ideals. A balance needs to be struck between fostering financial innovation, stimulating market vitality, expanding financial openness and financial supervisory capabilities. He said: “Today, the global financial and economic environment is changing dramatically. You need to stick to the bottom line, but also respond flexibly to risks and challenges, and be brave to do away with the old and create the new.”

After Wang Qishan gave a speech, Ma Yun took the stage to give a speech bombing China’s financial supervision system. He said current Chinese finances face “not the risk of the financial system, but the risk of the lack of a healthy financial system.”

Jack Ma also said: “I think there is a phenomenon that many regulatory agencies around the world are risk-free after their supervision, and their own departments are risk-free, but the entire economy is at risk and the entire economy will not develop. . Future competition is innovative competition. It is not just a supervisory skills competition. I understand that the improvement of governance capacity mentioned by President Xi refers to healthy and sustainable development under orderly supervision, rather than one lack of development under supervision. “

Ma Yun’s speech was later interpreted as an attack on the financial supervision system and Wang Qishan’s hard work.

(Source of the first image: shutterstock)

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