Business

News Analysis A sizable group of small investors has threatened to bankrupt Wall Street hedge funds that have sought to profit from the downfall of the video game retailer GameStop. The investors have organized online to buy GameStop’s stock, forcing billions in losses on the establishment players that had bet on the company’s failure. The exact origin

News Analysis Early investors in China’s fintech giant Ant Group thought they were in line for a massive payday—that is, until Ant’s highly anticipated initial public offering last year was suddenly scuttled by Chinese regulators. Venture capital and private equity firms such as Silver Lake and Carlyle Group believed they had a winner in the bag. After

President Donald Trump late Tuesday signed an executive order that bans transactions with eight Chinese connected software applications, including Ant Group’s Alipay. The order released by the White House bans transactions with people that develop or control Alipay, CamScanner, QQ Wallet, SHAREit, Tencent QQ, VMate, WeChat Pay, and WPS Office, as well as with their subsidiaries. Trump said in the order that

A high-level Chinese official acknowledged at a forum on Nov. 28 that many of China’s investment projects in the semiconductor industry were short-sighted and ultimately failed. Wang Zhijun, one of the deputy ministers at China’s Ministry of Industry and Information Technology, made the comments while speaking at the China Development Forum hosted by the prestigious

Commentary Ant Group, China’s shiniest fintech star, was all set to raise a record-setting $37 billion in an initial public offering—before everything disintegrated in a matter of days. Ant’s IPO blowup shocked all involved parties, except perhaps those within the highest echelons of the Chinese Communist Party (CCP). From the wreckage of Ant’s share sale, we can draw a

After Chinese leader Xi Jinping’s visit to Shenzhen two weeks ago, in which he emphasized the city as an engine to drive up the economy of the Guangdong-Hong Kong-Macau Greater Bay Area, locals have raised concerns to The Epoch Times that factories continue to move out or close down in the industrial zone. Some analysts say this

WASHINGTON—Ant Technology Group launches its initial public offering (IPO) with a record share sale this week amid concern over national security and the company’s involvement in human rights abuses. The company is set to raise about $34.5 billion in its dual public listing in Shanghai and Hong Kong. This would mark the biggest IPO of all time,

WASHINGTON—Ant Technology Group, the parent company of China’s largest digital payment platform Alipay, is set to go public this year, even as the company’s ties to the Chinese Communist Party (CCP) could pose significant risks to U.S. investors. Controlled by billionaire Jack Ma, founder of Alibaba, the Chinese financial technology company is preparing for an initial public

Internal government documents obtained by The Epoch Times suggest that one of the main drivers behind China’s Belt and Road Initiative (BRI, also known as “One Belt, One Road”) is to get rid of the country’s excess industrial capacity by moving them out to participating BRI countries. Under the Banner of International Industrial Capacity Cooperation