The Chinese government accused an official of corruption and the case sprayed the technology company Alibaba

Alibaba Group Headquarters (Reuters) in Hangzhou, Zhejiang Province, China

Led rule Xi Jinping Started a Corruption investigation against Hangzhou official, Its region received its name Tourism and technology activity and residence of businessman Jack Ma who owns Alibaba.

The Communist Party of China (CCP) Announced a serious investigation Violations of discipline and public law, Means in general in this country Corruption.

Action against Chou Jiang (53 years old) was announced in a brief, one-sentence statement on the controller’s website PCC, Without giving details. However, the party secretary Hangzhou, great influence, access to inside information and decision-making power over budgets and appointments.

Chou Jiang, Belonging to the province Zhejiang, From what Hanjo Capital has risen by the limits of regional power since the 1980s. If the corruption allegations are proven, he will be one of the most important Chinese figures to fall short of the campaign announced by the president. Xi Jinping Against administrative malpractice.

HangzhouOnce upon a time imperial capital was famous for its temples and lakes, today it is known as the giant headquarters of internet sales. Alibaba.

Jack Ma, the founder of the Alibaba Group, has been at the center of controversy over an open investigation into a Chinese Communist Party official (Reuters).
Jack Ma, the founder of the Alibaba Group, has been at the center of controversy over an open investigation into a Chinese Communist Party official (Reuters).

Following the announcement of the inquiry on Jr., The Hangzhou Municipal Standing Committee He held a meeting on Saturday in which he reaffirmed his commitment to the fight against corruption and responsible governance. A separate statement from CCDI He said he would launch a campaign to eradicate the city Inappropriate links between government and business.

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Social media accounts were written for the family weekend Zhou bought shares in a Fintech company before an initial public offering in November., According to an article, before listing projects were removed Find out Posted in Paper, Part of the United Media Group Shanghai Government support. According to the article, posts that did not mention the company name were deleted.

Ant group As they suggested, certain people on Sunday denied buying shares prior to last year’s scheduled IPO.The latest rumors are online”. The company did not specify who it was referring to, and said it strictly adhered to all relevant laws and regulations during the listing process. Controllers abruptly stopped the initial public supply of ant, Worth a record $ 35 billionJust days before its launch last year, after its founder publicly criticized financial regulators.

Alibaba fell 3.7% in Hong Kong on Monday, Even if other tech stocks rise. Technical code Hong Cheng It was 2.1%, recovering from last week’s 11% decline.

Hangzhou Has grown into one of the most prosperous cities China, Thank you in large part Alibaba And its subgroups. The country’s leading e-commerce operator contributes billions in local taxes and is a major employer in the city located in the Eastern Province. Zhejiang. It attracted hundreds and thousands of vendors and merchants to the city, all of whom sought to do business with the vast Internet empire. மா.

Chinese President Xi Jinping in a file photo (Reuters)
Chinese President Xi Jinping in a file photo (Reuters)

That immense influence Hangzhou It has developed a strong relationship with the local government. In 2019, மா He received the award “Famous citizen of Hangzhou“Nothing less than hands Jr., According to then government reports, was the leader of a local party that honored the millionaire Mughal for his contribution to the economic and social development of the city. Local media have also published photos Jr. Attending Yin’s Annual Shopping Festival Alibaba Singles Day in 2019.

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China, Under the order Xi, Has intensified its years-long campaign against bribery – which is seen as a major destructive force Sports– Then trapped many high officials Chongqing Up to Shanxi. There has also been strong condemnation of entrepreneurs. Last year, Hu Xiaogong, Senior executive of a suspicious credit company China Great Wall Property Management Company. Inquired. Former President of China Huarong Property Management Co. in January for crimes including bribery.

Research on Jr. Then occurs Zhejiang It was recently named by the government as a pioneer zone in an effort to redistribute wealth Xi. The melting pot of traditionally fast-growing private companies plans to increase personal disposable income to 75,000 yuan ($ 11,555) by 2025, a 45% increase over five years. Wages should represent more than half of its GDP. In the last few months, Xi ”Stressed the rhetoric aboutGeneral prosperityIn his quest to reduce poverty by providing security for the country’s wealthy citizens.

(With AP and Bloomberg information) .-

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Esmond Harmon

"Entrepreneur. Social media advocate. Amateur travel guru. Freelance introvert. Thinker."

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