The rebellious Chinese giant Alibaba Group Holding, the founder of which Jack Ma in the fall of 2020 allowed himself criticized by Beijing, lost $ 344 billion for the year – this is a global record, calculated Bloomberg.
In early October, Alibaba shares fell to a record minimum at the auction in Hong Kong against the background of tightening the requirements for the company and the appeals of the authorities to the restructuring of the Fintech business. By the end of the month, the value of the shares of tehnogigant was recovered by 30 percent, but was still 43 percent lower than in October 2020.
In addition to Alibaba, in the five “leaders” to reduce market value over the past year – Chinese Kuaishou Technology (minus 104 billion dollars), Ping An (minus 66.1 billion dollars), Tencent (65.4 billion) and American zoom (63 billion).
Last fall it was known that the Chairman of the People’s Republic of China Si Jinspin personally gave an order to suspend the placement of AT Group shares – after Jack Ma criticized the rules governing the high-tech industry in China. The company’s exit to the stock exchange could be the largest IPO in history, but the Committee on China’s Securities Control approved the suspension of listing due to the “Changes of Financial and Technical Supervision Conditions.”
After the conflict with Ma Beijing tightened regulation in a number of industries, which was affected, in particular, technological giants, as well as the sectors of the educational services. In September, Bloomberg calculated that for the first time since 2017, not a single Chinese left in the top of the world’s largest companies.