SHANGHAI—China’s regulatory crackdown has ensnared sectors from technology to education to property, wiping hundreds of billions off the market capitalizations of some of its largest companies and putting investors on alert over who may be next. Here are some of the largest names that have been affected so far. Alibaba Group The woes of China’s biggest e-commerce company began in late 2020 when China abruptly suspended the record $37 billion stock market debut of its financial affiliate Ant Group and later fined Alibaba $2.75 billion for abusing its market dominance. The company’s U.S.-listed shares have shed more than $400 billion in value since late October, when its founder Jack Ma made a speech that blasted China’s regulatory system, which is widely regarded as the trigger for the government backlash that followed. Alibaba’s sprawling empire of businesses has continued to face heat from regulators over issues ranging from their use of …
China Crackdown Wipes Hundreds of Billions Off Top Companies’ Values
September 13, 2021
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