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Cyrus, to talk about this topic, you need to interpret the regulation on small web-based loans, effective Dec 2, 2020. Also, before this new regulation, Ant Group had registered relatively too small capital fund of its own for Asset-backed Securities (a mechanism that caused the 2008 subprime mortgage crisis) but what Ant had utilized was mostly the funds from its collaborating banks, leading to an extremely high leverage. What Ant Group could do under the new regulation is to increase its own capital fund (to at least five times bigger) if it wants to reach the same IPO scale, however the P/E ratio expectation becomes much less profitable. I too admire Jack Ma, but I think it is reasonable to put small web-based loans under the regulation requirements similar to other financial institutions.
When China invented the paper banknote, the rest of the world soon followed with their own paper currency. Now China is rolling out digital Yuan, eventually the rest of the world will follow with their own digital currency. History has shown this to be true.
one thing i've noticed about this war between the pro and anti-China factions is how, the pro side uses logic, reason, and credible evidence to back up their arguments, whereas the anti side rely on emotional appeals, slanderous language, and dubious sources. youtubers like Cyrus J and Daniel D are great assets to the pro side.
@@kongwee1978 exactly. we live in the age of clickbate media. YT is very guilty for promoting disgusting anti-China content. and then everyone wonders why there is so much anti-Asian hate in western countries.
I like your comparison between logic, reasons n credible evidence against emotional appeal, slanderous languages n dubious sources ... and most laughable is the gullibility of Western Developed Society n most Western colonized nations including India ...n most of the Christian Evangelicals in Western nations n previous colonies...
I always thought Jack Ma already knew about the regulator's intended move to block the IPO before he gave that speech, finally somebody who's reasonable enough to dispell the Western media's sensationalism and desperation to paint China as a dystopian country.
Nothing's ever final till it's final. When JM made that speech, he knew his chance for regulatory approval was slim but he tried to do some last minute persuasion to regulators, sway public opinion and fight his way. No doubt, intense behind the scenes lobbying was done. People forget that the regulators are some of the finest financial brains in China and already very tech savvy. They required Ant be run more like a bank and be regulated like one but this would devastate their high valuation which JM would not accept.
Jack Ma was good when he puts the interests of others before himself, like when Ma uploaded Covid-19 prevention handbook and made it available to all. But when Jack Ma starts putting his own self-interests and those of his company, over the interests of Chinese people, then he needs to be taken down a notch.
Is that the reason why Chinese tech giants have lost in one year $800 billion? I guess it is. Why are the big tech CEO's from these tech giants disappearing? Is this normal for CCP to do this, after all, these companies just want to make money. What's wrong with that?
@@jonharson hope I got deported to China to and get citizenship. But alas there is no such thing 😂 US is the past, china is the future. Today is asia era, the times for the east to lead mankind in this endeavor solving worlds wonder and driving further scientific progress for the betters future of human
Good explanation and it's good Chinese regulators want to protect its citizen from credit bubble caused by internet loan company. 53% mobile payments is huge in China but under no bank regulation and no risk to the company. Regulators did the right thing.
@@beautifulearth1657 Really? Speak for yourself. - Jack Ma only holds less than 10% share of Alibaba, the rest split between US, Japan (Softbank) and Canada shareholders. - Alibaba is listed outside China, but most business done in China, earns China money and feed foreign shareholders. - Alibaba promotes consumerism in China. Due to its large scale business, suppresses other China businesses and creates more un-employment in China.
Very informative. I learned a lot! And very nice you directly introduce the 3 main questions that you are going to address. I wish more vlogs were so nicely structured!
Coming from you my friend who spends a ton of time researching and planning each video, that comment means a lot! Thank you for the support Alex! See you on a livestream soon my friend
The more I come to understand how China's government works, the more I am convinced that it's the most responsive and responsible government I know. Sure, there will be missteps like very government, but I have no doubt its central focus is the prosperity of the people. Thank you again, Cyrus, for your invaluable work.
@@alfredneuman6488 Because killing millions of people, if you're talking about the Cultural Revolution, is irrelevant. Mistakes have been made to every government, and there's some, like China, that I accept, because they have shown that they have learned from these traumatic events in history. However, there is some that I don't accept (*cough cough* USA), and it's because they (the USA) walked themselves into their own trap. You may bring up the Tianenmen Square shinaniggas, if you really want to.
It's very important that the govt works for the people, cares abt the people and is always above the big corporates. Only a society that upholds justice and equality can thrive bec' everyone will want to have a stake in it. Big corporates that become monopolistic and bully small ones should be reigned in by pro-competition regulations, then the government will garner the support of the population.
Every business looks to maximize profits. Jack is no different. This is why regulators are very important. To keep things in check. The 2008 GFC was well known before it ever happened. The banks were greedy everyone including the “regulators” knew this but opted to look the other way. When things went wrong the banks got protected using tax payer money. Money from the very people who suffered the most. So, good on the chinese regulator for being pro active.
@@constellation35 Jack Ma is good when he puts the interests of others before himself (like when he uploaded Covid-19 guidebook to share information on Covid-19 with everyone) but when Jack Ma starts putting his own self-interests and those of his company, over the interests of Chinese people, then Jack Ma needs to be taken down a notch.
@@Shenzhou. Jack Ma likes to preach... He is trying to emulate Warren Buffett, but once you are no different from all those other capitalists then you'll lose your credibility very fast. The problem with pure capitalism is that... it doesn't care, it's only about return and profits. A commercial enterprise should earn a profit for the risk it undertakes and for the capital it deploys but you can do so responsibly or irresponsibly. So it takes a responsible government like the CCP to slap Jack Ma so he doesn't forget the government and the people that supported his business.
So instead they have a CCP taking total control of all financial institutions and now trying to take 100% full total digital control over ever last iye jiao with the digital money idea. Click, a press of a CCP controllers button and everything you have is frozen, seized, transactions blocked, BEEP!
@@yanguYT Nothing you're saying really makes a lot of sense and there isn't a country called "The West". There is no such place. As for bribes, I mean, how do you think "The East" is run??
I read about the cancelled IPO at the time, but never encountered any kind of comprehensive analysis of what was going on. Until seeing this. Many thanks!
Thanks Cyrus and Richard. This is a great update, confirming my gut feeling that Jack Ma would be fine. I also agree with you guys that Jack knew this was coming and that speech was a cry, pleading with the regulators not to suspend his IPO. I think tightening the relevant regulations is a good move on the Chinese regulators' part, if anything, they should have done it earlier.
Jack Ma was good when he puts the interests of others before himself, (i.e when he uploaded Covid-19 prevention handbook and made it available to all). But if Jack Ma wants to put the interests of himself and his own company over that of Chinese people, then he needs to be taken down a notch by the government.
@Tom Collins Hong Kong was taken from China by Britain. During the 19th century, the British wanted to continue drinking Chinese tea, but China did not want anything the West had to offer, so Britain waged two bloody wars with China and forced Chinese to buy opium from them at gunpoint, which we didn't want because it made us sick and was poisoning our people. During this weak period of Chinese history, Hong Kong was taken from China and made into British colony, to act as a drug distribution hub to spread the addiction throughout rest of China. Even when Britain renounced ownership over its former territories, Hong Kong was not fully returned back to China, and China had to agree to Sino-British declaration just for Britain to handover what belongs to us.
@Edmund Kemper If Canada treat China like an enemy, then why should China treat Canada like a friend? All Canada needs to do is release Meng Wanzhou and put her on the first flight back to China and China-Canada relations can finally start mending.
Cyrus, to talk about this topic, you need to interpret the regulation on small web-based loans, effective Dec 2, 2020. Also, before this new regulation, Ant Group had registered relatively too small capital fund of its own for Asset-backed Securities (a mechanism that caused the 2008 subprime mortgage crisis) but what Ant had utilized was mostly the funds from its collaborating banks, leading to an extremely high leverage. What Ant Group could do under the new regulation is to increase its own capital fund (to at least five times bigger) if it wants to reach the same IPO scale, however the P/E ratio expectation becomes much less profitable. I too admire Jack Ma, but I think it is reasonable to put small web-based loans under the regulation requirements similar to other financial institutions.
When you can earn all the returns without assuming risk, then basically you don't bear any responsibility. The problem though is.... the risk and the responsibility do not disappear. Somebody else will have to bear them.
Indeed, the CPC GOVERNANCE IS ENSURING THE COMMON PUBLIC GOOD FOR THE MAJORITY UNLIKE THE US N WESTERN COLLECTIVES OF SELFISH CAPITALISM, HOWEVER EU IS TRYING HARD TO RECTIFY BUT SYSTEMIC INTRINSIC NEO ECO SYSTEMS IS THE STUMBLING BLOCK ESPECIALLY TOO MUCH INDIVIDUALISM!
Thanks Richard Turin for such a clear and easy to understand explanation on this. Thank you Cyrus for sharing this too. I will share this on facebook to my friends.
Cyrus, that was the clearest and easiest to understand explanation I have heard on the ANT IPO situation., all in everyday layman language. Thank you so much for your continuing efforts in educating us with correct information.
Very much agree!!! I hope that Alibaba Group will be dismantled (it's become a monster that controls every aspect of live of Chinese people) and Digital Yuan will replace Ali Pay in the near future.
A very well-made video, especially for overseas Chinese as many of us are out of touch with the latest development, thanks so much to create this video.
Western media depends on ratings to 'survive'.The more dramatic the newscast the bigger the audience (soap opera) re Fox News etc.etc.Thanks Cyrus. Peace.
Taobao, which is part of Alibaba, has helped farmers in rural areas to sell their agricultural products online. Helping the farmers in improving their income.
But farmers cooperating with Taobao got price advantage by the subsidy from Taobao,which did great harm to the traditional famers and formed a monopoly. At the end we find the consumers have to pay more for the agriculture products,while the famers get less.
Thanks for the video! I've learnt more about the Ant group and what the Chinese government was doing to it. When the Chinese government is working to improve China and toward their goals, unfortunately the US government is busy trying to score the political talking points.
I always said that westerners are creative with damn good imagination to cook up all kinds of theories . plus totally clueless on how chinese think and plan ... the answer is simple, its all about leverage and long term benefits
@vidsurf88 Think about it, Westerners are great at thinking of new things up but rarely ever improve on them. Chinese on the other hand can take something old and turn it into something new and high tech. Chinese can pretty much improve things to the next level. However nowadays, I see the Chinese coming out with more and more new and bold ideas.
Another great video Cyrus. It's always good and enlightening hearing from a specialist/expert or a person that's familiar and experience in a certain field. Nowadays, people just skim thru a discussion and draw a conclusion. What's more dangerous is they draw a conclusion that suits them.
It makes a lot of sense that if it looks like an FI, behaves like an FI, profits like an FI, it should be regulated like an FI. No free passes even if you are Jack Ma. Thanks Cyrus and Richard, great video.
Fabulous insight , Cyrus ! This video enlightens a lot of people that are not too familiar with Financing , IPO , China Finance and Banking regulations . Thank you . Keep it up ! Your channel and contents are transforming to a higher form .
Thanks for bringing out the issue! I think, we cannot afford a Lehman Brothers or similar incidents in China. Risk management and the interest of individuals should always be the prime consideration!
A very thoughtful, reasonable and unbiased explanation for the cancelation of Ant's IPO. You did a splendid job! Ant Group was creating credits using multiple wrapped Asset-Backed Securities aka unlimited leverage in order to register a revenue which justifies their insanely overrated valuation. Trying to get the highest IPO price is understandable, a lot companies do that, but at the cost of undermining China's financial system is very wrong, especially after the sub-prime crisis. Those financial experts Alibaba employs knew the risk very well, but they still chose to do it all out of their own greed. We do not need such a gigantic égoïste company.
China and the West is like Jack Ma and Elon Musk having a conversation. At first Elon Musk mocked Jack Ma. Then, Tesla went into a serious crisis with the brakes. Then, the Chinese EV companies like Nio overwhelm Tesla, and Elon Musk suddenly cries, "Help me please, somebody, I want my mama so badly"
Capitalism *favors monopolies,* that's why _Apple, Google, Facebook, Amazon,_ dominate their respective industries and eliminated competition from smaller American firms. China actually has an *anti-monopoly law* to clamp down on anti-competitive practices in the industry, even Jack Ma is being investigated under China's anti-monopoly laws.
What he says from the 8th minute and on is fantastic, this is sooo valuable information for us that want to invest in Alibaba. Well done for this interview.
Jack Ma is a very connected in China and he will be OK. Just it needs to be regulated. CCP dont want an economic crisis , let alone it will have huge impact socially and politically. Why did China halt the Ant Group IPO? A company doing P2P micro-lending, dressed up as a tech company. The founder gave a public speech going “is stupid / too much regulation / what the heck is reserve requirement / borrow to consume is glorious”. Chinese banking regulators went WTF some guy trying to build the mother of all financial crisis? You are a dead man! PS: Banks are not techs. With techs, say, your iPhone broke, so you are out a thousand bucks. That’s bad but you can not pay Apple what you don’t have. The loss is limited to your own “one thousand bucks”. Banks are different. They use other people’s money to earn other people’s money, and they can leverage way more than they have in their own money. If a “product” broke, it’s not only the bank’s money. The money comes from a hundred other guys (i.e., insurance companies, mutual funds, pensions, other banks, corporations, and many, many other people’s savings accounts…) so now they are all broke! Goldman Sachs can trigger a financial crisis so big, even if you chop Goldman up and sell it by the pound, you can not make up the potential loss. Because Goldman plays with other people’s money. One bank going down can easily take millions of people down with it. A bunch of them can drag the whole world down. Which is why banks are heavily regulated: they have reserve requirement, they have to pay depositor insurance, they have huge disclosure requirement, all phone calls and texts will be recorded and kept for 3 year,… So when some glorified loan shark dressed as tech company, going “Basel II is stupid”, yeah, the Chinese SEC will swat you down like a fly. Even if the guy is the second richest man in China. Actually, a lot of these “financial innovation tech companies” are basically doing things banks do but without the regulation and safeguard, getting 10 times the banks’ valuation, because they are too new to have triggered a giant financial crisis yet. So the risks aren’t priced in. The big picture is that with the global uncertainty and expected economic downturn, the Chinese government DOESN’T WANT THE CHINESE PEOPLE TO BORROW TO CONSUME! Set aside a bit of raining day fund, be a bit more thrifty, and learn a useful skill. The poverty reduction program during the last decade has been so hard, the last thing they want is to have some rich assh*le impoverish more people through his cute little predatory lending.
*Capitalism is killing the planet.* Capitalism is the overproduction of goods for the sake of profits, unnecessarily polluting the Earth in the process, with the eventual goal being the complete depletion of the Earth's resources. Because our modern industries are just too efficient, we can literally produce enough food, goods, houses, schools, hospitals, etc for everyone on the Earth. Yet despite this, we still have starving people in the world, homeless people, illiteracy, people lacking access to healthcare, etc. Because under the capitalist system, the goods go to those who can afford it. Communism is the belief that every resource should be allocated to the people *according to needs.* The Earth's resources are finite, and capitalism only seeks to exhaust the Earth's resources in pursuit of profit, whereas communism is committed to the idea of distributing resources according to needs. Sure, it's not a perfect system but it seems preferable to capitalism, which is overproduction for the sake of profits. What's the point of hoarding profit? When we all eventually die, can capitalists take their profits into the afterlife? No.
Tough but good decision by the regulator .The pressure must have been very great but they stood their ground for the greater good . I do have a few shares in Alibaba but I understand and am not complaining .
Excellent points. Thanks to Richard and Turrin. I hope American Government has the vision, gut and teeth to safeguard American financial system. But unfortunately, too big to fail exists well and more dangerous.
Xi Jinping stuns me. Cyber regulations, digital currency banking regulation, big business regulations, climate regulation etc., you name it he has done it. Compare Biden, all big talk and nothing to show, except the Trump mindset.
You are extremely on the point , right after he was able to maintain his power , he also did reform of military , fight with corruption, reform of the environment, Loose the loaning standard, started The one roald one belt initiative and still on going !
Thanks so much, Cyrus, for this very lucid and informative interview with Turin to clarify the real story behind the Ant Group incident. The Western news media has lost all semblance to being objective unbiased reporting as the ideals of true journalism. By the way, I am much impressed by your clear and articulate communication skills. I sure would like to recommend that the Chinese Central government form a group within their foreign affairs corp made up of people/expats such as yourself to assist them in communications with the international press.
Very informative especially the background provided by Mr. Turrin regarding P2P lending crisis. With this background we now see that what the regulators did was sound, a case of the regulators doing their job protecting the public rather than working for the industry.
Exactly . The only way to produce that kind of revenue to meet that kind of valuation is : create more credit loans . This could goes south very quick . Overloaded bad credit loans , BOOM ! = crisis . Would be a china own domestic one , much likely could escalate into another global crisis .
No matter how you think, cancel an IPO days before scheduled dates is a disgrace of that regulator. The most likely reason is a division of the decision makers. Ma’s speech gave an upper hand to the opposition
When you think about it, It'd be highly illogical for Jack Ma to step across the line as even a normal person would not do it. This was a well coordinated publicity campaign (with Jack Ma participating) to bring awareness to problems leverage & P2P targeting mainly mainlanders, & begin officially shutting down P2P. It kick started proper & new ways of financing to help non-state owned enterprises financing. Before, they could have stopped it but chose not to as, probably timing wise, not ready, or the SMEs will be unable to get proper financing from the banks.
When China invented the paper banknote, the rest of the world soon followed with their own paper currency. Now China is rolling out our own digital Yuan, eventually the rest of the world will follow with their own digital currency. History has shown this to be true.
Exactly as my first thoughts. When the ipo got shutdown, I've been going around reminding the detractors on 2008 financial crisis with too big to fail companies like AIG n Lehman brothers. Now I can just give them a link to explain it 😁
6/9/21 Jack Ma / Ant Financial In China, the purposes of all government agencies and departments are to service the "people", NOT any consortium, enterprise or individual. This can be seen in the handling of Covid-19 epidemic. This is why China has built the most and convenient infrastructure, internet, education, medical care, retirement, pension systems ⋯⋯ for the “people”. This is why the Chinese government has spent a huge amount of money and efforts to lead hundreds of millions of people out of poverty. China is a "different kind of country." In China, there is no "wealth nor power" higher than "it’s people". Including all Chinese government personnel; There were more than three thousand government officials dismissed, due to their negligence in fighting COVID-19 epidemic. The Chinese government has the responsibility to protect people's lives, interests, and property. Will not let any company or individual use it as a tool for making money. Jack Ma/Ant Financial is no exception. Before IPO, the government has the obligation to review and supervise whether it violates the interests of the country or the people. Jack Ma's vision, wisdom, talent, innovation, execution, and personal Charisma are obvious to all! He is a model of entrepreneurship and a role model for Chinese youth! The cultural backgrounds and national conditions of China are different from foreign countries. It is understandable that the Jack Ma/Ant Financial incident has aroused widespread criticism and speculation from abroad.
However big the companies is not totally foolproof and can collapse under certain situations. It is a precautionary measure to prevent bad outcomes. Any bailouts have its costs
Fintech is the new frontier of debate. There is no right way to regulate it because no one can 100% anticipate what problems that could be arising in the future. All countries are handling it their own way.
The U.S. dollar seems to be STILL the leader in the market place with at least 67% slice of the currency-pie and Yuan with approx 2%. Digitation may slowly become the preferred mean of currency in the future but to optimistically say that Yuan will be in the forefront is too early to predict. Anyway, if that becomes a reality, that would mean dominance in global economy.
I really don’t understand how all this work but I invested with Mr David Harrison , a top notched forex trader that gives me profits every week or should I call it 7 days
Reply to A COMMENT: I like your comparison between logic, reasons n credible evidence against emotional appeal, slanderous languages n dubious sources ... and most laughable is the gullibility of Western Developed Society n most Western colonized nations including India ...n most of the Christian Evangelicals in Western nations n previous colonies... MR Richard Turrin, your narratives is most systematically balanced with foresight n for a progressive future narratives for Alibaba type of pragmatism to further enhanced its capabilities n capacities for common good instead of typical capitalism exploit... ..." share Prosperity with world communities using Alibaba Principle to facilitate the marginalized n undersigned majority..
Cyrus, thank you for this video. It adds back all the missing puzzles of the Ant group IPO scandal. Now, things are much clearer and the decision of the Chinese government is understood and reasonable.
Jack Ma's company works on Financial Assets but not regulated as financial companies. That's real risk for the country. They can't take the risk for money making for themselves but not laying down the asset and scrutinized as a financial company.
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Cyrus, to talk about this topic, you need to interpret the regulation on small web-based loans, effective Dec 2, 2020. Also, before this new regulation, Ant Group had registered relatively too small capital fund of its own for Asset-backed Securities (a mechanism that caused the 2008 subprime mortgage crisis) but what Ant had utilized was mostly the funds from its collaborating banks, leading to an extremely high leverage. What Ant Group could do under the new regulation is to increase its own capital fund (to at least five times bigger) if it wants to reach the same IPO scale, however the P/E ratio expectation becomes much less profitable. I too admire Jack Ma, but I think it is reasonable to put small web-based loans under the regulation requirements similar to other financial institutions.
When China invented the paper banknote, the rest of the world soon followed with their own paper currency.
Now China is rolling out digital Yuan, eventually the rest of the world will follow with their own digital currency.
History has shown this to be true.
@@Shenzhou. yep
one thing i've noticed about this war between the pro and anti-China factions is how, the pro side uses logic, reason, and credible evidence to back up their arguments, whereas the anti side rely on emotional appeals, slanderous language, and dubious sources. youtubers like Cyrus J and Daniel D are great assets to the pro side.
Rational is boring in mainstream media.
And a lot of racism from the anti side, don't forget
@@kongwee1978 exactly. we live in the age of clickbate media. YT is very guilty for promoting disgusting anti-China content. and then everyone wonders why there is so much anti-Asian hate in western countries.
I like your comparison between logic, reasons n credible evidence against emotional appeal, slanderous languages n dubious sources ... and most laughable is the gullibility of Western Developed Society n most Western colonized nations including India ...n most of the Christian Evangelicals in Western nations n previous colonies...
Anti side also full of jealousy.
I always thought Jack Ma already knew about the regulator's intended move to block the IPO before he gave that speech, finally somebody who's reasonable enough to dispell the Western media's sensationalism and desperation to paint China as a dystopian country.
Nothing's ever final till it's final. When JM made that speech, he knew his chance for regulatory approval was slim but he tried to do some last minute persuasion to regulators, sway public opinion and fight his way. No doubt, intense behind the scenes lobbying was done. People forget that the regulators are some of the finest financial brains in China and already very tech savvy. They required Ant be run more like a bank and be regulated like one but this would devastate their high valuation which JM would not accept.
Hard to imagine someone like Jack Ma, who has a plethora of important connections in China, wouldn't see that coming
Jack Ma was good when he puts the interests of others before himself, like when Ma uploaded Covid-19 prevention handbook and made it available to all. But when Jack Ma starts putting his own self-interests and those of his company, over the interests of Chinese people, then he needs to be taken down a notch.
Same buddy. That was his final roll of the dice. I've heard 2 other Chinese fund analysts say the same thing.
Is that the reason why Chinese tech giants have lost in one year $800 billion? I guess it is.
Why are the big tech CEO's from these tech giants disappearing? Is this normal for CCP to do this, after all, these companies just want to make money. What's wrong with that?
If you enjoyed this video, raise your hand to show Cyrus Janssen your undying love ✋🙋
Thank you always for the support Mansana!
@@CyrusJanssen you're welcome man
This guy should be deported to China.
@@jonharson hope I got deported to China to and get citizenship. But alas there is no such thing 😂 US is the past, china is the future. Today is asia era, the times for the east to lead mankind in this endeavor solving worlds wonder and driving further scientific progress for the betters future of human
Good explanation and it's good Chinese regulators want to protect its citizen from credit bubble caused by internet loan company. 53% mobile payments is huge in China but under no bank regulation and no risk to the company. Regulators did the right thing.
You know you sounds so naive ....
@@beautifulearth1657 Really? Speak for yourself. - Jack Ma only holds less than 10% share of Alibaba, the rest split between US, Japan (Softbank) and Canada shareholders.
- Alibaba is listed outside China, but most business done in China, earns China money and feed foreign shareholders.
- Alibaba promotes consumerism in China. Due to its large scale business, suppresses other China businesses and creates more un-employment in China.
Very informative. I learned a lot! And very nice you directly introduce the 3 main questions that you are going to address. I wish more vlogs were so nicely structured!
Awesome! So glad to hear you enjoyed it!
Lot's of research went into this. I admire anf share the passion of putting out well researched content my friend.
Coming from you my friend who spends a ton of time researching and planning each video, that comment means a lot! Thank you for the support Alex! See you on a livestream soon my friend
The more I come to understand how China's government works, the more I am convinced that it's the most responsive and responsible government I know. Sure, there will be missteps like very government, but I have no doubt its central focus is the prosperity of the people. Thank you again, Cyrus, for your invaluable work.
Thank you John for the support! So glad you enjoyed the video
Yes, killing millions of their own people should be relegated to being just a little 'misstep'... well done that wumao.
@@alfredneuman6488 Because killing millions of people, if you're talking about the Cultural Revolution, is irrelevant. Mistakes have been made to every government, and there's some, like China, that I accept, because they have shown that they have learned from these traumatic events in history. However, there is some that I don't accept (*cough cough* USA), and it's because they (the USA) walked themselves into their own trap.
You may bring up the Tianenmen Square shinaniggas, if you really want to.
@@yanguYT Just who are you and what part of the CCP do you work for spreading their crappy propaganda?
@@yanguYT We remember Tiananmen 1989
Personally, I have stopped trusting Jack Ma, he just proved he's a greedy businessman, and I'm Chinese.
It's very important that the govt works for the people, cares abt the people and is always above the big corporates. Only a society that upholds justice and equality can thrive bec' everyone will want to have a stake in it. Big corporates that become monopolistic and bully small ones should be reigned in by pro-competition regulations, then the government will garner the support of the population.
Every business looks to maximize profits. Jack is no different. This is why regulators are very important. To keep things in check.
The 2008 GFC was well known before it ever happened. The banks were greedy everyone including the “regulators” knew this but opted to look the other way. When things went wrong the banks got protected using tax payer money. Money from the very people who suffered the most. So, good on the chinese regulator for being pro active.
Jack Ma was silenced. For someone who likes to talk and give his opinion, he is silently protesting.
@@constellation35 Jack Ma is good when he puts the interests of others before himself (like when he uploaded Covid-19 guidebook to share information on Covid-19 with everyone) but when Jack Ma starts putting his own self-interests and those of his company, over the interests of Chinese people, then Jack Ma needs to be taken down a notch.
@@Shenzhou. Jack Ma likes to preach... He is trying to emulate Warren Buffett, but once you are no different from all those other capitalists then you'll lose your credibility very fast. The problem with pure capitalism is that... it doesn't care, it's only about return and profits. A commercial enterprise should earn a profit for the risk it undertakes and for the capital it deploys but you can do so responsibly or irresponsibly. So it takes a responsible government like the CCP to slap Jack Ma so he doesn't forget the government and the people that supported his business.
With the experience of the Lehman Brothers, China would not allow finanical institutions to play outside the control of the govt.
So instead they have a CCP taking total control of all financial institutions and now trying to take 100% full total digital control over ever last iye jiao with the digital money idea. Click, a press of a CCP controllers button and everything you have is frozen, seized, transactions blocked, BEEP!
@@yanguYT Nothing you're saying really makes a lot of sense and there isn't a country called "The West".
There is no such place.
As for bribes, I mean, how do you think "The East" is run??
@@topsuperseven7910 Actually I think I should back off for a bit, I'm too finance-illiterate for now.
(Also a bit law-illiterate too)
Cyrus, appreciate your effort in searching all the useful information for people to analyze
My pleasure Edwin!
I read about the cancelled IPO at the time, but never encountered any kind of comprehensive analysis of what was going on. Until seeing this. Many thanks!
My pleasure Colin
Thanks Cyrus and Richard. This is a great update, confirming my gut feeling that Jack Ma would be fine. I also agree with you guys that Jack knew this was coming and that speech was a cry, pleading with the regulators not to suspend his IPO.
I think tightening the relevant regulations is a good move on the Chinese regulators' part, if anything, they should have done it earlier.
China government's handling of Ant Group issue reflects that they have dimensional and comprehensive thinking and consideration.
milton friedman wouldnt be happy 🤣
Jack Ma was good when he puts the interests of others before himself, (i.e when he uploaded Covid-19 prevention handbook and made it available to all). But if Jack Ma wants to put the interests of himself and his own company over that of Chinese people, then he needs to be taken down a notch by the government.
China operate different to USA. In USA, wall st is more important than people.
@Tom Collins Hong Kong was taken from China by Britain. During the 19th century, the British wanted to continue drinking Chinese tea, but China did not want anything the West had to offer, so Britain waged two bloody wars with China and forced Chinese to buy opium from them at gunpoint, which we didn't want because it made us sick and was poisoning our people. During this weak period of Chinese history, Hong Kong was taken from China and made into British colony, to act as a drug distribution hub to spread the addiction throughout rest of China.
Even when Britain renounced ownership over its former territories, Hong Kong was not fully returned back to China, and China had to agree to Sino-British declaration just for Britain to handover what belongs to us.
@Edmund Kemper If Canada treat China like an enemy, then why should China treat Canada like a friend? All Canada needs to do is release Meng Wanzhou and put her on the first flight back to China and China-Canada relations can finally start mending.
Cyrus, to talk about this topic, you need to interpret the regulation on small web-based loans, effective Dec 2, 2020. Also, before this new regulation, Ant Group had registered relatively too small capital fund of its own for Asset-backed Securities (a mechanism that caused the 2008 subprime mortgage crisis) but what Ant had utilized was mostly the funds from its collaborating banks, leading to an extremely high leverage. What Ant Group could do under the new regulation is to increase its own capital fund (to at least five times bigger) if it wants to reach the same IPO scale, however the P/E ratio expectation becomes much less profitable. I too admire Jack Ma, but I think it is reasonable to put small web-based loans under the regulation requirements similar to other financial institutions.
When you can earn all the returns without assuming risk, then basically you don't bear any responsibility. The problem though is.... the risk and the responsibility do not disappear. Somebody else will have to bear them.
This is the best thing that prevented the monstrous financial crisis in the making!
Indeed, the CPC GOVERNANCE IS ENSURING THE COMMON PUBLIC GOOD FOR THE MAJORITY UNLIKE THE US N WESTERN COLLECTIVES OF SELFISH CAPITALISM, HOWEVER EU IS TRYING HARD TO RECTIFY BUT SYSTEMIC INTRINSIC NEO ECO SYSTEMS IS THE STUMBLING BLOCK ESPECIALLY TOO MUCH INDIVIDUALISM!
It truly was, but Western media would never report it like that
@@CyrusJanssen Indeed, they are more than happy to see you fail.
Thanks Richard Turin for such a clear and easy to understand explanation on this. Thank you Cyrus for sharing this too. I will share this on facebook to my friends.
Cyrus, that was the clearest and easiest to understand explanation I have heard on the ANT IPO situation., all in everyday layman language. Thank you so much for your continuing efforts in educating us with correct information.
Awesome Jose! So glad you enjoyed it
Flaws in this video. 1) "Jack Ma is not a major shareholder". US investors own >60%. Softbank owns >25%. Joseph Tsai owns >11%. Jack owns
Very much agree!!! I hope that Alibaba Group will be dismantled (it's become a monster that controls every aspect of live of Chinese people) and Digital Yuan will replace Ali Pay in the near future.
A very well-made video, especially for overseas Chinese as many of us are out of touch with the latest development, thanks so much to create this video.
So glad you enjoyed Ling!
Great video on the truth of why ant group listing was blocked by the ccp
Very information! You don't find this kind of information on WSJ, Bloomberg or CNBC.
Thank you for what you do. I just recently started to follow you and I adore every video thus far. You really clear the air.
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Crypto trading and hugs returns
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Appreciate the support Brad!
i love how Richard explained everything logically. new point of view for me. certainly valuable video.
Western media depends on ratings to 'survive'.The more dramatic the newscast the bigger the audience (soap opera) re Fox News etc.etc.Thanks Cyrus. Peace.
Cyrus, you should invite "Pascal Coppens" for a conversation. He is just amazing and has lots of tremendously interesting content.
In the process! Pascal will be a great guest for the show
Ah, I have mentioned this to Cyrus before
@@CyrusJanssen wow, waiting to see the sparks fly
Very infomative and helpful, finally I understand the reason behind it. Fantastic job, thank you Cyrus.
Real expert opinion, nothing sensational, this blows main stream media "reporting" out of water.
Thank you Wen Ren!
Taobao, which is part of Alibaba, has helped farmers in rural areas to sell their agricultural products online. Helping the farmers in improving their income.
Very important point....Alibaba is a very important part of China's poverty alleviation program
But farmers cooperating with Taobao got price advantage by the subsidy from Taobao,which did great harm to the traditional famers and formed a monopoly. At the end we find the consumers have to pay more for the agriculture products,while the famers get less.
Thanks for the video! I've learnt more about the Ant group and what the Chinese government was doing to it. When the Chinese government is working to improve China and toward their goals, unfortunately the US government is busy trying to score the political talking points.
Great content 👍🏼
I always said that westerners are creative with damn good imagination to cook up all kinds of theories . plus totally clueless on how chinese think and plan ... the answer is simple, its all about leverage and long term benefits
@@user-nj4hn2ft5q Why are you copying Cyrus Janssen's profile picture and username? You're not the real Cyrus Janssen!
@vidsurf88 Think about it, Westerners are great at thinking of new things up but rarely ever improve on them. Chinese on the other hand can take something old and turn it into something new and high tech. Chinese can pretty much improve things to the next level. However nowadays, I see the Chinese coming out with more and more new and bold ideas.
@@eugenechin2863 That's a broad generalization, based on race. Ugg, another racist.
Another great video Cyrus. It's always good and enlightening hearing from a specialist/expert or a person that's familiar and experience in a certain field. Nowadays, people just skim thru a discussion and draw a conclusion. What's more dangerous is they draw a conclusion that suits them.
Jack is the most creative and bravery businessman in China, thank you Cyress for covering all the interesting news in China 👏👏👏
That’s fantastic insights and information
It makes a lot of sense that if it looks like an FI, behaves like an FI, profits like an FI, it should be regulated like an FI. No free passes even if you are Jack Ma. Thanks Cyrus and Richard, great video.
Fabulous insight , Cyrus ! This video enlightens a lot of people that are not too familiar with Financing , IPO , China Finance and Banking regulations .
Thank you . Keep it up ! Your channel and contents are transforming to a higher form .
Glad you enjoyed it!
Thanks for bringing out the issue!
I think, we cannot afford a Lehman Brothers or similar incidents in China.
Risk management and the interest of individuals should always be the prime consideration!
We in Asia have so much respect for western institutions.
A very thoughtful, reasonable and unbiased explanation for the cancelation of Ant's IPO. You did a splendid job!
Ant Group was creating credits using multiple wrapped Asset-Backed Securities aka unlimited leverage in order to register a revenue which justifies their insanely overrated valuation. Trying to get the highest IPO price is understandable, a lot companies do that, but at the cost of undermining China's financial system is very wrong, especially after the sub-prime crisis. Those financial experts Alibaba employs knew the risk very well, but they still chose to do it all out of their own greed. We do not need such a gigantic égoïste company.
Another awesome video by Cyrus!!
Thanks for sharing! You are a credible source for truthful info related to China! Many thanks! 🙏😃
Amazing content! Well done Cyrus!
China and the West is like Jack Ma and Elon Musk having a conversation.
At first Elon Musk mocked Jack Ma. Then, Tesla went into a serious crisis with the brakes. Then, the Chinese EV companies like Nio overwhelm Tesla, and Elon Musk suddenly cries, "Help me please, somebody, I want my mama so badly"
Help me mama EU, mama 5 eyes.... China bully me...
😂
Thanks for inviting an excellent scholar, and giving a more analytical picture
We can trust Jack Ma, he's the guy in bling bling clothes singing some cheesy songs on stage 😂
Capitalism *favors monopolies,* that's why _Apple, Google, Facebook, Amazon,_ dominate their respective industries and eliminated competition from smaller American firms. China actually has an *anti-monopoly law* to clamp down on anti-competitive practices in the industry, even Jack Ma is being investigated under China's anti-monopoly laws.
@@Shenzhou. actually America has anti-monopoly laws too. But big companies are well... Too big to be bullied so they get their ways all the time
Very useful and informative interview for us ordinary folks, thank you!
Thank you. Well explained and makes sense.
@@user-nj4hn2ft5q 😂
What he says from the 8th minute and on is fantastic, this is sooo valuable information for us that want to invest in Alibaba. Well done for this interview.
*Greetings gentlemen*
Welcome to China, the land of plenty
great insignt/ great interview
The key to success is diligence.
Great video man..
Eye opening
thank youCyrus another great
guess
Richard, thanks for your wisdom!
Great topic as always!👍 thank you for clearing the fake news out there!👏🙏🌹
Another good video!
👍👍👍this explanation help to clear up those many accusations.
I respect Ma Yun as one of the great minds of China.
If you enjoying Cyrus Jansen video. Then raise your hands 🤚🤚🤚🤚...
Amazing work!
Chinese people received the cancellation very well.
Jack Ma is a very connected in China and he will be OK. Just it needs to be regulated. CCP dont want an economic crisis , let alone it will have huge impact socially and politically.
Why did China halt the Ant Group IPO?
A company doing P2P micro-lending, dressed up as a tech company. The founder gave a public speech going “is stupid / too much regulation / what the heck is reserve requirement / borrow to consume is glorious”. Chinese banking regulators went WTF some guy trying to build the mother of all financial crisis? You are a dead man!
PS: Banks are not techs. With techs, say, your iPhone broke, so you are out a thousand bucks. That’s bad but you can not pay Apple what you don’t have. The loss is limited to your own “one thousand bucks”. Banks are different. They use other people’s money to earn other people’s money, and they can leverage way more than they have in their own money. If a “product” broke, it’s not only the bank’s money. The money comes from a hundred other guys (i.e., insurance companies, mutual funds, pensions, other banks, corporations, and many, many other people’s savings accounts…) so now they are all broke! Goldman Sachs can trigger a financial crisis so big, even if you chop Goldman up and sell it by the pound, you can not make up the potential loss. Because Goldman plays with other people’s money. One bank going down can easily take millions of people down with it. A bunch of them can drag the whole world down. Which is why banks are heavily regulated: they have reserve requirement, they have to pay depositor insurance, they have huge disclosure requirement, all phone calls and texts will be recorded and kept for 3 year,…
So when some glorified loan shark dressed as tech company, going “Basel II is stupid”, yeah, the Chinese SEC will swat you down like a fly. Even if the guy is the second richest man in China.
Actually, a lot of these “financial innovation tech companies” are basically doing things banks do but without the regulation and safeguard, getting 10 times the banks’ valuation, because they are too new to have triggered a giant financial crisis yet. So the risks aren’t priced in.
The big picture is that with the global uncertainty and expected economic downturn, the Chinese government DOESN’T WANT THE CHINESE PEOPLE TO BORROW TO CONSUME! Set aside a bit of raining day fund, be a bit more thrifty, and learn a useful skill. The poverty reduction program during the last decade has been so hard, the last thing they want is to have some rich assh*le impoverish more people through his cute little predatory lending.
Excellent food for thought
Yes. He got the real reason.
Great sharing
Excellent explanation to free the mindset of antagonisms.
So glad China really works hard to protect their future and people's interests.
Thks for sharing
Bought the book and it's been a great read. Sorry I didnt use your affiliate link.
No worries! glad you enjoy the book
Thanks both. I've shared this video on some western MSM videos on Jack Ma. Hopefully more people can be exposed to more reasonable explanations.
Leaving a footprint, two thumbs up.
Anti capitalist it's not bad at all, those capitalism supporters should be ashamed of themselves.
*Capitalism is killing the planet.* Capitalism is the overproduction of goods for the sake of profits, unnecessarily polluting the Earth in the process, with the eventual goal being the complete depletion of the Earth's resources. Because our modern industries are just too efficient, we can literally produce enough food, goods, houses, schools, hospitals, etc for everyone on the Earth. Yet despite this, we still have starving people in the world, homeless people, illiteracy, people lacking access to healthcare, etc. Because under the capitalist system, the goods go to those who can afford it.
Communism is the belief that every resource should be allocated to the people *according to needs.* The Earth's resources are finite, and capitalism only seeks to exhaust the Earth's resources in pursuit of profit, whereas communism is committed to the idea of distributing resources according to needs. Sure, it's not a perfect system but it seems preferable to capitalism, which is overproduction for the sake of profits. What's the point of hoarding profit? When we all eventually die, can capitalists take their profits into the afterlife? No.
@Anthony TimmersAKA the entire elite
@Anthony Timmers But they do not have the power
Socialism with Chinese characteristics! 🤗
Good analysis!
Cyrus keep up d good work
Tough but good decision by the regulator .The pressure must have been very great but they stood their ground for the greater good . I do have a few shares in Alibaba but I understand and am not complaining .
Excellent points. Thanks to Richard and Turrin. I hope American Government has the vision, gut and teeth to safeguard American financial system. But unfortunately, too big to fail exists well and more dangerous.
Xi Jinping stuns me. Cyber regulations, digital currency banking regulation, big business regulations, climate regulation etc., you name it he has done it. Compare Biden, all big talk and nothing to show, except the Trump mindset.
Biden is always blowing his own trumpet. It’s not easy for American presidents to understand that self praise is no praise.
You are extremely on the point , right after he was able to maintain his power , he also did reform of military , fight with corruption, reform of the environment, Loose the loaning standard, started
The one roald one belt initiative and still on going !
Thanks so much, Cyrus, for this very lucid and informative interview with Turin to clarify the real story behind the Ant Group incident. The Western news media has lost all semblance to being objective unbiased reporting as the ideals of true journalism.
By the way, I am much impressed by your clear and articulate communication skills. I sure would like to recommend that the Chinese Central government form a group within their foreign affairs corp made up of people/expats such as yourself to assist them in communications with the international press.
Hey, thanks for the great video I hope more people realize the long term potential of Alibaba as time goes on
Very informative especially the background provided by Mr. Turrin regarding P2P lending crisis. With this background we now see that what the regulators did was sound, a case of the regulators doing their job protecting the public rather than working for the industry.
TO help others is to help yourself.
解析的非常好，订阅
, I am incredibly grateful for your comment”””Let’s talk more===...
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@@user-nj4hn2ft5q 哇哦！我非常的开心，我想，像这样前卫的讨论将永无止尽。
No matter how new the world is, when you handle other people's money, you should be regulated as a bank not a technology company.
Exactly . The only way to produce that kind of revenue to meet that kind of valuation is : create more credit loans . This could goes south very quick . Overloaded bad credit loans , BOOM ! = crisis . Would be a china own domestic one , much likely could escalate into another global crisis .
No matter how you think, cancel an IPO days before scheduled dates is a disgrace of that regulator. The most likely reason is a division of the decision makers. Ma’s speech gave an upper hand to the opposition
When you think about it, It'd be highly illogical for Jack Ma to step across the line as even a normal person would not do it. This was a well coordinated publicity campaign (with Jack Ma participating) to bring awareness to problems leverage & P2P targeting mainly mainlanders, & begin officially shutting down P2P. It kick started proper & new ways of financing to help non-state owned enterprises financing. Before, they could have stopped it but chose not to as, probably timing wise, not ready, or the SMEs will be unable to get proper financing from the banks.
How and where can I invest in Ant Group? I live in the US.
have to wait for IPO....will be delayed for probably another 10-12 months
When China invented the paper banknote, the rest of the world soon followed with their own paper currency. Now China is rolling out our own digital Yuan, eventually the rest of the world will follow with their own digital currency. History has shown this to be true.
@@user-nj4hn2ft5q Why are you copying Cyrus Janssen's profile picture and username?
That person is a spammer and probably scammer, be careful
Exactly as my first thoughts. When the ipo got shutdown, I've been going around reminding the detractors on 2008 financial crisis with too big to fail companies like AIG n Lehman brothers. Now I can just give them a link to explain it 😁
6/9/21 Jack Ma / Ant Financial
In China, the purposes of all government agencies and departments are to service the "people", NOT any consortium, enterprise or individual. This can be seen in the handling of Covid-19 epidemic. This is why China has built the most and convenient infrastructure, internet, education, medical care, retirement, pension systems ⋯⋯ for the “people”. This is why the Chinese government has spent a huge amount of money and efforts to lead hundreds of millions of people out of poverty.
China is a "different kind of country." In China, there is no "wealth nor power" higher than "it’s people". Including all Chinese government personnel; There were more than three thousand government officials dismissed, due to their negligence in fighting COVID-19 epidemic.
The Chinese government has the responsibility to protect people's lives, interests, and property. Will not let any company or individual use it as a tool for making money.
Jack Ma/Ant Financial is no exception. Before IPO, the government has the obligation to review and supervise whether it violates the interests of the country or the people.
Jack Ma's vision, wisdom, talent, innovation, execution, and personal Charisma are obvious to all! He is a model of entrepreneurship and a role model for Chinese youth!
The cultural backgrounds and national conditions of China are different from foreign countries. It is understandable that the Jack Ma/Ant Financial incident has aroused widespread criticism and speculation from abroad.
However big the companies is not totally foolproof and can collapse under certain situations. It is a precautionary measure to prevent bad outcomes. Any bailouts have its costs
China 🇨🇳 one day will be #1 Economic country ahead of 🇺🇸
Fintech is the new frontier of debate. There is no right way to regulate it because no one can 100% anticipate what problems that could be arising in the future. All countries are handling it their own way.
People will be kicking themselves in few weeks if they miss the opportunity to buy and invest in Bitcoin as it's retracing..…BE WISE
Stocks are good crypto is better
@Joan Walter That won't bother you if you trade with a professional like Raymond james
Yeah
The U.S. dollar seems to be STILL the leader in the market place with at least 67% slice of the currency-pie and Yuan with approx 2%. Digitation may slowly become the preferred mean of currency in the future but to optimistically say that Yuan will be in the forefront is too early to predict. Anyway, if that becomes a reality, that would mean dominance in global economy.
I want to wake one morning and find out that my portfolio is $300,000. I know it’s possible.
Lol, yeah it’s pretty much possible. All you need is to find a professional broker
I don't think that there is any other legitimate way to earn money nowadays rather than investing and trading in crypto currencies 🚀🚀
Trading crypto now will be very wise but trading without a professional is not
I trade features on a better exchange with lesser fees, i am glad to say i was able to do that with the help of Mr David Harrison he is so kind
I really don’t understand how all this work but I invested with Mr David Harrison , a top notched forex trader that gives me profits every week or should I call it 7 days
Reply to A COMMENT: I like your comparison between logic, reasons n credible evidence against emotional appeal, slanderous languages n dubious sources ... and most laughable is the gullibility of Western Developed Society n most Western colonized nations including India ...n most of the Christian Evangelicals in Western nations n previous colonies...
MR Richard Turrin, your narratives is most systematically balanced with foresight n for a progressive future narratives for Alibaba type of pragmatism to further enhanced its capabilities n capacities for common good instead of typical capitalism exploit... ..." share Prosperity with world communities using Alibaba Principle to facilitate the marginalized n undersigned majority..
Cyrus, thank you for this video. It adds back all the missing puzzles of the Ant group IPO scandal. Now, things are much clearer and the decision of the Chinese government is understood and reasonable.
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Jack Ma's company works on Financial Assets but not regulated as financial companies. That's real risk for the country. They can't take the risk for money making for themselves but not laying down the asset and scrutinized as a financial company.
Interest video
so obvious yet the market chooses the tabloid version. thats the problem with overly famous tickers, liars cheaters start swarming
, Thanks for the reply!!!
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