Posted on 05/17/2021 5:43:58 PM PDT by SeekAndFind
The Chinese regime fined Alibaba $2.8 billion in April under anti-monopoly law, highlighting the regime’s comprehensive review of Chinese internet companies.
However, Tencent was only fined $310,000 despite its comparable monopolistic influence in China. For a mega-corporation like Tencent, a fine of this size is equivalent to pennies.
The CCP’s biggest grievance with Alibaba is its very large share of the CCP’s precious authority over Chinese banking and finance. However, this alone doesn’t justify the disparity in fines. Tencent’s monopolistic actions in many leading industries are in no way smaller than Alibaba’s.
China’s three main technology companies are Baidu, Alibaba, and Tencent, forming the acronym BAT. Among BAT, Tencent has the most amazing expansion and the most serious monopoly, far surpassing Alibaba and Baidu.
Why is the CCP showing mercy to Tencent, while so heavily fining Alibaba?
In terms of monopolistic standing, Alibaba and Tencent both dominate the massive Chinese digital marketplace as megacorps. Both are valued at similar market capitalizations of approximately $500 billion, with slightly different industry focuses. Alibaba’s main focus is e-commerce, while Tencent leans toward digital gaming and messaging.
Under the umbrella of their massive corporations, they both hold a myriad of offshoot companies with overlapping focuses in financial technology, digital payments, wealth management, and messaging platforms.
Alibaba’s Ant Financial has subsidiaries such as Alipay, Zhaocaibao, Yu’ebao, Ant Jubao, Internet Commercial Banking, Ant Huabei, and Sesame Credit.
Among vertical payment companies, Alibaba focuses on public transportation and wealth management. In the entire wealth management industry chain, their corporate structure layout includes investment consultants (Pioneer Pilot), Robo-advisor (Alfa Financial), and social investment (Snowball).
Alibaba’s breadth of holdings certainly warrants the criticism of being a monopoly.
(Excerpt) Read more at theepochtimes.com ...
I don’t think Jack Ma (of Alibaba) figured out the rules there, quickly enough.
Jack Ma is a Communust Party member.
He knows the rules. He just lost.
Ha ha. He’s scum like all of them.
Ma learned when you strike at the King you’d best kill him.
Swing and a miss.
“Jack Ma is a Communust Party member. He knows the rules. He just lost. Ha ha. He’s scum like all of them.”
Yea, you’re right...he would have been ‘dealt with’ much sooner if he wasn’t an insider. I suspect that he was starting to build his own power base, or was perceived as such. No different than how the media and GOP ‘deals with’ populists...like Trump.
Basically the same as the USA.
Communism: Coming to a country near you. (Maybe it’s here already.)
Commies fining commies. Bwa ha ha ha ya ya ha !
The excerpt doesn’t explain why one is fined heavier than the other, and then they ask for my email. No thanks. Anyone have a good spoofer email?
I am only allowed to post up to 300 words. Click on the article link to read the rest.
The article not load unless you give your email address, as I posted. I don’t want spam for 5 years just because I read 1 article.
If you have read the article then please address the issue.
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