Xi Aims To Break Up Alipay: FT

Xi Aims To Break Up Alipay: FT

Never a dull moment in Xi Jinping's sweeping regulatory crackdown. China's besieged tech giants were forced to reckon with yet another foreboding headline on Monday, after FT suggested Beijing has Jack Ma's empire in the crosshairs. Again. Chinese regulators are looking to break up Ant Group's Alipay, according to a pair of sources, who said Beijing aims to create a separate app for the company's loan business. This is hardly surprising. After all, Xi's "profound revolution" began with Beiji
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