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Beijing also issued draft rules on online micro lending, stipulating stricter capital requirements and operational rules for some of Ant Group Co. The fintech giant was scheduled to start trading on Thursday. What Ma said was a bit sensational, perhaps.
But he was right. So why is Ma being singled out?
But going forward, to appease its banks, Beijing click here want to level the regulatory playing field.
But in reality, nothing has changed.
At the opening of his speech, Ma admitted he was conflicted as to whether to attend the forum and speak up. He knows where the real problem is and could be part of the solution.
Updates with Alibaba shares dump pump illegal crypto and is the fourth paragraph.
An earlier version was corrected to show China is averse to extending credit to smaller borrowers, not lenders, in the fifth paragraph.
This column does see more necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners. Shuli Ren is a Bloomberg Opinion columnist covering Asian markets.
She previously wrote on markets for Barron's, following a career as an investment banker, and is a CFA charterholder. For more articles like this, please visit us at bloomberg.
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