頗懷疑這時候放出金融穩定法風聲，是為了接下來的違約潮與更嚴苛的資金管制做準備。前者可能是不認帳或轉移損失，後者可能是將各方面資金限制檯面化降低流動。
"中國銀行央行副行長劉桂平也在3月的1篇文章敦促改革，他指出，中國的金融規則過於分散，可以借鑑美國的《多德—弗蘭克法案》及其他主要經濟體的金融改革經驗。劉桂平認為，中國需要一致的金融穩定法。
劉桂平已向全國人大呈交提案，並建議在條件成熟時盡快出台。但北京威諾律師事務所合夥人Yang Zhaoquan指出，完成這項法案可能得花上3到5年的時間，他稱，由於風險事件接連出現，不僅損害市場，還波及金融及社會穩定性，因此迫切需要更多且強大法律工具。
《彭博》指出，像共產黨這樣執著於「掌控」的政府，在監管金融機構的行為似乎不太一致，一方面是疏忽對華融的監管，導致該公司爆發財務危機，一方面卻又警告像螞蟻集團這樣的公司影響力過大。"
中國巨型企業遭遇國有化威脅的同時, 逃過倒閉潮的倖存小型企業則面臨金流不足的危機.
"Close to 19% of China’s small businesses shut down last year, compared with 6.7% in 2019, according to a study released in March by Tsinghua University involving more than 50,000 companies nationwide."
"While the insolvency rate is expected to be better this year, many companies still face serious cash-flow constraints. A survey of more than 10,000 small businesses released in March by Peking University and Ant Group Co. found that 15% have sufficient cash flow to sustain operations for six months or longer, down from 19% in the third quarter of 2020, though some expect revenue to pick up as the year progresses."
https://www.wsj.com/articles/for-chinas-small-businesses-life-is-still-far-from-normal-11619953204
螞蟻這種鉅企都讓外資股東面臨相當風險了，遑論其他。
"The global investors, which also included private-equity firms, sovereign-wealth funds and pension plans, were on the cusp of reaping a massive windfall last fall. Now, it is far from certain that those investors will end up making a profit and they can’t easily sell their investments until the company revives its plans to go public again, which could be years away. "
螞蟻這隻金雞母被取卵後的損傷統計:
[ For the quarter ended in March, Alibaba’s net loss attributable to ordinary shareholders was 5.5 billion yuan, equivalent to $836 million, compared with a net income of 3.2 billion yuan in the same period a year earlier. Its sales rose 64% to 187.4 billion yuan, equivalent to about $28.6 billion, beating analyst expectations.
In April, China’s State Administration for Market Regulation levied a $2.8 billion fine against Alibaba, equal to 4% of the company’s domestic annual sales. The regulator said its investigation, launched in December, found that the company punished certain merchants who sold goods both on Alibaba and on rival platforms, a practice known as “er xuan yi”—literally, “choose one out of two.”]
外媒注意到了中國監管機構對數據庫應用獲利的壓縮與鼓勵舉報的政策:
"The admonitions have so far stopped short of demanding complete corporate overhauls, other than for Ant. For some companies, placating Chinese authorities is a matter of tweaking some app features, while others could suffer more if much of their profits rely on data collection and sharing, according to employees of five of the app companies targeted by regulators last month."
法院認證的用戶數據外洩:
"《彭博》報導，1家幫助淘寶賣家的營銷顧問公司，其1名員工自2019年以來私下抓取了超過10億個包括用戶名和電話號碼在內的敏感用戶數據，用於為其他客戶提供服務。"
再次以數據為藉口的打擊數位產業:
"On Monday, China’s Cybersecurity Review Office, which falls under the Cyberspace Administration of China, said it launched a data-security probe into the apps Yunmanman, Huochebang and Boss Zhipin. It said the review is aimed at preventing national data security risks, maintaining national security and protecting public interests."
再次證明外資撤離香港是正確決定~
"The Didi probe is the first publicized by China’s Cybersecurity Review Office, a unit under the internet watchdog. According to measures which came into effect a year ago, companies under review should receive initial results within 45 days, except in complicated cases."
🤷♀️🤷♀️🤷♀️～
“這封日期為6月25日的信函，由設於新加坡的亞洲互聯網聯盟（Asia Internet Coalition）發出。這個聯盟由臉書、谷歌和推特等網路平台業者和主要科技公司組成。
華爾街日報報導，信中表示：「科技企業要避免遭受這些懲罰的唯一途徑，就是不要在香港進行投資和提供服務。」”
外資的自由市場邏輯與中共的壟斷市場邏輯無法在香港並存。
"While Hong Kong’s population of about 7.5 million means it isn’t a major market in terms of its user base, foreign firms often cite the free flow of information in Hong Kong as a key factor for being located in the financial hub."
翻白眼~
"上海東亞研究所助理所長包承柯告訴中央社記者，在「實名制」的時代，中國的手機儲存個人消費、健康等個資，手機的資訊就等於一個人完整的數據；而成千上萬條數據結合起來，就是一個地區完整的訊息，「當然涉及國家安全」。
而滴滴所持有的高精度地圖，和「運滿滿」、「貨車幫」母公司「滿幫集團」擁有的交通及物流訊息，也被視為高度敏感的數據。"
很多人應該會懷念最後那波繁榮光景吧....
"From 2019 to 2022, Western banks played a big role in a flurry of so-called “homecoming listings” of Alibaba and other tech companies that also sold shares in Hong Kong. They also helped dozens of Chinese banks, property developers, manufacturers and retailers sell more than $700 billion worth of U.S. dollar corporate bonds over the past five years. "
強硬干涉讓資本再度放大中國政治風險影響而傾向脫鉤:
"Also top of mind for IPO bankers and investors who own U.S.-listed shares of Chinese companies is whether the new guidelines out of China are only about data, or if they represent a sea change from the country that could lead to companies pulling potential U.S. listings.
Either way, a freeze of the Chinese IPO pipeline seems to be the current state of play: Bankers say any Chinese company that was planning a U.S.-listed IPO in the coming months is likely being shelved for now."
"Both Beijing and Washington have long seen economic engagement as the cornerstone of the two countries’ ties. But the relationship has become so unpredictable over the years that even the drive to make money in each other’s markets no longer works as a unifier."
https://www.wsj.com/articles/china-to-revise-rules-and-strengthen-supervision-of-overseas-listings-11625572533?st=ljbxsuubeegmc7s&reflink=desktopwebshare_permalink