Beijing, April 10, 2021, Saturday
Disaster has hit Jack Ma, the founder of Alibaba and China's richest man, who has been critical of the Chinese government.
The Chinese government has now washed its hands of Jack Ma. Earlier, the government blocked Alibaba's IPO and has now slapped a hefty āŠĶ 2.78 billion fine on the Alibaba Group. The Chinese government has reportedly said that the Alibaba group has violated anti-monopoly rules.
The fines imposed on Alibaba Group are expected to reach four per cent of the company's 2019 revenue. They have come under fire from the government last year after Jack Ma criticized the Chinese government's monetary policies and state-owned banks. Jack Ma has also been mysteriously missing for 6 months since last October. Which caused a stir all over the world.
Even then, however, China's ruling Communist Party still seems to be harassing Jack Ma. As a result, Alibaba Group has now been slapped with heavy fines.
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