Lessons from the Ant/Alibaba Crackdown

Over the past two months, Beijing has asserted new regulatory controls over Ant Financial and Alibaba, its parent company. But the crackdown implicates several questions with broader significance for China’s economy than the fates of these two individual firms. This note discusses preliminary lessons of the Ant/Alibaba case related to Beijing’s approach to private enterprise and market forces, the future regulation of fintech companies beyond Alibaba and Ant, and the direction of household and consumer lending in China’s financial system.

Posted January 4, 2021
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