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."
壟斷數據資產的政策觀(被資產化的韭菜數據流只能是滋養黨的電流) 與進一步截斷大額資金外流管道(監管境外可變利益實體的企圖)
"In essence, the law shows that such digital records should be considered a national asset, which can be tapped or restricted according to the state’s needs."
"... the cyberspace administration is also working with China’s top securities regulator and other ministries in revising longstanding rules governing so-called variable interest entities, the people say. Such corporate structures, known as VIEs, have enabled foreign investors to buy into Chinese companies in technology and other sensitive sectors without outright owning voting shares in these firms.
.... One option being considered by the regulators is to require companies using the VIE structure to seek regulatory approval before selling shares in foreign markets "
滴滴被下架的後續影響:
"Bytedance, whose shareholders include Sequoia Capital and KKR & Co., is one of the world’s most valuable startups. Unlike Didi, which had chalked up losses for years, Bytedance’s financials meant it didn’t have to hurry to list, "
一頭霧水：這個罰款金額與要求騰訊放棄的權利根本不成比例啊。
“根據《CNBC》報導，中國反壟斷監管機構向騰訊下令，要求放棄旗下的國際唱片公司獨家音樂許可權，並向騰訊罰款。
外媒消息指出，國家市場監督管理總局（SAMR）24日以「騰訊違規收購中國音樂」，對騰訊處以50萬元人民幣（約216萬台幣）的罰款。”
翻白眼: 早晚要撤，當然是早撤早安心。
"《彭博》報導，美港中概股因中國一系列的監管措施，股價殺到快見骨，連帶使得中國內地股市也跟著遭追殺，迫使中國官媒發表一系列文章，暗示股市已經跌過頭，部分分析師更推測，中國政府基金已開始進場干預，盼止息市場恐慌性賣壓。
為了緩解國際投資者的擔憂，知情人士透露，中國證監會周三（28）晚間急召國際投資機構解釋，這次匆忙安排的電話會議與會者主要是國際銀行，由中國證監會副主席方星海主持，還要求匿名討論。"
一場可疑火災燒出的新稻草人：
「最近在中國股市引發極大震撼的話題，就是中國平安遭證監會調查的傳聞，據悉是中國平安的房地產投資問題，但平安已否認此事，卻難以平息馬雲這把火，是否已燒到中國平安董事長馬明哲身上的猜測。
紐時曾在2012年長文披露溫家寶家族崛起，文中提及溫出任副總理後，其家人透過各式各樣的投資總共累積了至少27億美元的財富，而溫家最大一筆財富的來源，就是平安保險上市募資前的投資。」
目前看過對網路時代的中國抑商政策最明白之理解了:
[ “Alliances with businessmen were temporary as part of the Party’s goal of total societal control,” Mr. Shum writes in his book. “Once we were no longer needed—to build the economy, invest overseas, or help restrict freedoms in Hong Kong—we, too, would become the enemy.” ]
終究還是把經濟問題當政治問題處理。
"華爾街日報報導，中國9月26日突然發布通告，中央第8輪「巡視」將對中國人民銀行、銀保監會、証證監會、外匯管理局、中國投資、國家開發銀行、中國進出口銀行、中國農業發展銀行、中國工商銀行、中國農業銀行、中國銀行、中國建設銀行、交通銀行、中國中信集團、中國光大集團股、中國人民保險集團、中國人壽保險（集團）、中國太平保險集團、中國出口信用保險公司、上海証券交易所、深圳証券交易所、中國華融、中國長城資產管理、中國東方資產管理、中國信達資產管理等25家金融單位「黨組織」開展常規「巡視」。
報導指出，從10月開始，中央紀律檢查委員會的反腐調查人員已經進駐 25 個金融監管機構及銀行的辦公室，審查這些監管機構及銀行的貸款、投資和監管文件，並要求回答某些交易或決定。任何被發現「誤入歧途」的實體都會受到處分，以徹底掃除任何「政治偏差」"
好吧，市場等著被上下沖洗吧。
"The financial-sector scrutiny comes as Beijing is also trying to address the economy’s dependence on debt-fueled construction sprees, which is prompting turmoil in China’s property sector. By expanding his economic campaign, Mr. Xi risks unleashing dynamics that could severely cut into growth in coming months."
@Perfume 人工挤泡（其实是冻结泡沫更恰当）的史无前例的大实验，看看效果如何。