To add a bit more details I heard of: * The clamp down on fintech has been on the agenda for a long time. Rooted in lessons learned from western crisis, the mo

To add a bit more details I heard of: * The clamp down on fintech has been on the agenda for a long time. Rooted in lessons learned from western crisis, the most recently, 2008 financial crash. The P2P disaster happened since 2018 [1]. The short boom and bust cycles in Chinese stock market [2]. * Totalitarian government controls all major aspects of economy is by design its right and purpose. * Jack Ma made the speech not because he is sure of Ant IPO, but because he was angry that the IPO is bound to fail one way or another. So he was pissed off and made a rant speech. Listen the speech yourself, he is making grandiose claims, but meanwhile his version of innovation is nothing but copying the risky financial schemes that already caused disaster before. That's a true rant, the quality of thoughts is the lowest among all of Jack Ma's speeches which are already quite low when comparing him to others with similar status. * Ant financial indicates a strong collusion between Jack Ma and Ant and some powerful people in CCP & government. Ant IPO price is 68.8, the stock serial number is 688688. In Chinese, 6 is pronounced same as 顺 (meaning everything goes according to one's own wish), 8 is same as 发 (in Cantonese, meaning getting rich). This means that Ant was getting preferential treatment that is way beyond normal expectation. * Among many stakeholders of Ant, one can easily found many brokers of powerful hidden figures in CCP. For example, Zhao Wei's mother. Zhao Wei, who were barred from stock market because of previous misconduct [4,5], whose husband Huang Youlong was a driver of the corrupted CCP member Xu Zhongheng. Zhao Wei and Huang Youlong married shortly after Xu Zhongheng were prosecuted [6]. It was widely rumored that Zhao Wei was Xu's mistress, and Zhao Wei and Huang Youlong ensnared or inherent Xu Zhongheng's embezzled fortune. [1] https://asia.nikkei.com/Opinion/Collapse-of-China-s-disgraced-P2P-sector-offers-important-lessons https://asia.nikkei.com/Opinion/Collapse-of-China-s-disgrace... [2] https://en.wikipedia.org/wiki/2015%E2%80%932016_Chinese_stock_market_turbulence https://en.wikipedia.org/wiki/2015%E2%80%932016_Chinese_stoc... [3] https://www.youtube.com/watch?v=DGzgpArH5AI https://www.youtube.com/watch?v=DGzgpArH5AI [4] https://www.rayradar.com/2020/10/31/ant-group-makes-a-feast-taishan-meeting-big-guy-zhao-wei-and-nursery-are-all-winners/ https://www.rayradar.com/2020/10/31/ant-group-makes-a-feast-... [5] https://fr.reuters.com/article/us-china-zhaowei-trading-ban-idUSKBN1DA0T1 https://fr.reuters.com/article/us-china-zhaowei-trading-ban-... [6] https://en.wikipedia.org/wiki/Xu_Zongheng https://en.wikipedia.org/wiki/Xu_Zongheng [7] https://sg.news.yahoo.com/zhao-weis-husband-denies-ties-031900119.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAA2YRVg-4j4R-iMRdxoUVOzvhSjiNFd0VanPvUjgg4b9ofh-r1JkOVqLOvqKNIHWcpY745DlmT6uGMJ6YVfMT-VEtNMWKAF4U5vdAcQsnCLt3ShZwKratcAgzT5EJhHqlalZeSz4Hrjv7frAfhHmDj1yyvBz5cverIHEz1jKFTL6 https://sg.news.yahoo.com/zhao-weis-husband-denies-ties-0319...