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China's Warning to Tech Firms After Alibaba and Ant Group Crackdown

China has put dozens of local tech companies on notice to heed the country's antitrust laws or else they could face the ire of government regulators. The move comes after authorities fined Jack Ma's Alibaba Group $2.8 billion and also ordered sweeping restructuring changes to his Ant Group financial technology firm. Read more to learn about China's latest attitude change towards Ma and souring relationship with the tech industry.

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China's Warning to Tech Firms After Alibaba and Ant Group Crackdown
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    China forces Jack Ma's Ant Group to restructure

    China forces Jack Ma's Ant Group to restructure

    verified_publisher
    BBC News

    China has forced a sweeping restructure on the Ant Group so the financial technology firm acts more like a bank. Ant Group's mega $37bn (£27bn) share market launch was derailed by regulators in November over concerns about its finance model. The latest move is part of a wider crackdown by China to …

    Jack Ma’s Ant called to end anti-competition in payments

    Jack Ma’s Ant called to end anti-competition in payments

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    TechCrunch - Rita Liao

    The details for Ant’s overhaul have arrived. Ant Group, the fintech affiliate of Alibaba controlled by Jack Ma, will become a financial holding company that will bring more regulatory scrutiny over how it lends and generates profits, China’s central bank said on Monday. Ant started as an online …

    China Fines Alibaba $2.8 Billion For Breaking Anti-Monopoly Law

    China Fines Alibaba $2.8 Billion For Breaking Anti-Monopoly Law

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    NPR - Elena Moore

    The Chinese government says it is issuing a $2.8 billion fine on the e-commerce company Alibaba Group for violating its anti-monopoly regulations. Alibaba is one of the most influential tech giants in China and the world. The company was under investigation by the Chinese government since December …

    Read More About Ant Group and Jack Ma

    What Happened to Jack Ma?

    What Happened to Jack Ma?

    By Tech

    Once revered in China as one of the country's top businessmen, Jack Ma seems to have found himself on the outs with the government of Xi Jinping. The Alibaba co-founder finds his businesses are facing regulatory crackdowns following a speech in which he criticized China's regulators and banks. A consequence of this: A canceled IPO for Ant Group which would have been one of the world's largest. Now Ma must navigate his way back into the good graces of the Chinese government.

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