Saturday , June 19 2021

The head of Chinese tech giant Meituan posts an old poem online and stocks have fallen


11 May 2021 14:27 GMT

Many felt the criticism exposed by the government and Chinese President Shi Jinping.

Mitsan, China’s largest online food delivery service, reached their lowest point after billionaire Wang Xing, the company’s head, posted a poem of thousands on social media. Bloomberg reports.

The book in question is entitled The source of the book “Burning Book” and is indexed A critique of Emperor Qin Shi HuangWhich ruled China between 221 and 210 BC. C. and Confucian scholars were widely known for their oppression and burning of books that contradicted their views. Because Mithuan is currently investigating allegations of misuse of his market dominance, Wang’s action was criticized by many as criticizing the Chinese government and President Xi Jinping. Although, editorial Decided to end the poem On Sunday and made clear that he had used it against his company.

AntiGroup will look to authorize Jack Ma to sell his stake and take control of the company

One of the Tang family poems has impressed me a lot: Qin scholars were ostracized, but Liu Bang and Sheng Yu, whose rebellion ended the Qin regime, were not highly educated. That reminds me that the most dangerous fighters are often not. As expected. […] Some companies and business models that have not been neglected by us at this time are those that can really affect the industry.

Investors are cautioning as Chinese authorities are in the process of re-establishing their relationship with the internet giant, whose economic power, large databases and access to all walks of life of citizens transform them into a growing national security concern. The other is An example of this is Wang’s business rival, Jack Ma, who in October last year angered Beijing by publicly criticizing the tightening of financial oversight of the high-tech industry by Chinese regulators. Shortly afterwards, the IPO of his fantasy company Antony Group was suspended. On the other hand, his company, Alibaba Group, was subjected to an investigation and fined $ 2.78 billion for violating the law. It is learned that with these steps the government intends to teach Jack Ma a lesson for his criticism.

Source link