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。"

https://ec.ltn.com.tw/article/breakingnews/3513741

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. "

https://www.wsj.com/articles/fidelity-halves-its-ant-group-valuation-after-beijings-clampdown-11620036004?mod=tech_lead_pos3

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.”]

https://www.wsj.com/articles/alibaba-logs-higher-quarterly-sales-but-posts-loss-on-antitrust-fine-11620908316?mod=hp_lead_pos4