When China's fintech 'mistress' was brought to heel

What the humbling of Jack Ma reveals about China's position on the tension between innovation and stability

ST ILLUSTRATION: MIEL

When China's richest man Jack Ma took on the country's financial watchdogs late last month, he knew it was risky and that there could be repercussions.

It was a bold but baffling move to say the least, with less than two weeks to go before his fintech giant Ant Group's US$37 billion (S$50 billion) initial public offering (IPO) - the world's largest stock market debut.

Please or to continue reading the full article.

Get unlimited access to all stories at $0.99/month

  • Latest headlines and exclusive stories
  • In-depth analyses and award-winning multimedia content
  • Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months*

*Terms and conditions apply.

A version of this article appeared in the print edition of The Straits Times on November 14, 2020, with the headline 'When China's fintech 'mistress' was brought to heel'. Print Edition | Subscribe