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Jack Ma ‘missing’, a death sentence to Lai Xiaomin, who is china’s top Finance Executive, Is Xi Jinping intimidating opponents?

Lai Xiaomin, china’s Top Business Executive, has been sentenced to death amid these reports about Jack Ma. A court in the Chinese city of Tianjin sente…

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Jack Ma 'missing', a death sentence to Lai Xiaomin, who is china's top Finance Executive, Is Xi Jinping intimidating opponents?

After Xi Jinping took charge in China, the anti-corruption campaign is being taken forward rapidly, which also raises many questions. Chinese President Xi Jinping has been accused of using this campaign to actually suppress his opponents. Whatever voice is raised against Xi Jinping, the action is taken against them under this campaign and through this, a lesson is also given to other people. The latest case is that of Alibaba’s founder Jack Ma, one of China’s big IT companies, and Lai Xiaomin, who was once a big businessman, whom the Xi administration is under question.

‘Dragon’ eyes on Jack Ma’s data!

Jack Ma has not been seen publicly in the past, due to which many reports of his ‘missing’ have also come out. In the last two months, there has been a big decline in their property, after which China is believed to have either stopped or kept them under house arrest. The reason for the confrontation between Jack Ma and Xi’s administration is attributed to the Conservative data collected by Jack Ma’s large financial-technology company.

Actually, Jack Ma’s company’s payment and lifestyle app ‘Ali Pay’ is used by billions of people and Chinese regulators believe that it can gather information related to consumers’ spending habits, borrowing and bill payments. So far, these data have been completely the property of Jack Ma’s company, using which he has been taking advantage of the business by paying the middleman’s land in the loan transaction. But China now wants to end the monopoly rule of the company on this data.

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The Wall Street Journal report also recently said that Jack Ma said something from a forum in October 2021, which was seen as a criticism of the Chinese President. Since then, he has not been seen publicly. His assets have also declined since October last year, which is being linked to the Xi administration’s action against Jack Ma and his company. According to a report by the Bloomberg Billionaire Index, where Jack Ma’s net worth was $ 61.7 billion in October, it has now come down to $ 51.2 billion.

Death sentence is now given in case of corruption

Lai Xiaomin, china’s Top Business Executive, has been sentenced to death amid these reports about Jack Ma. A court in the Chinese city of Tianjin sentenced Lai to death and said in his judgment that his crime had caused great harm to the country’s interests. Lai, who was the chairman of the China Hyorang Assets Management Company, has been convicted of incurring a sum of approximately US $ 28 million between 2008 and 2018 after the company was founded in 1999. He has also been sentenced for corruption and more than one marriage. In Chinese media reports, Lai said that he created more than 100 properties and distributed them among his wife and girlfriends.

Lai Xiaomin was arrested in 2018. After Lai’s arrest, a large amount of property was seized from his residence and other locations. Punishing businessmen and people associated with public life in an anti-corruption campaign after Xi assumed power in China is no surprise, but the way he has been sentenced to death has raised concerns. It is said to be the ‘harshest punishment ever’ heard under President Xi Jinping’s anti-corruption campaign. At the same time, it is also being said that the Chinese government is trying to create fear among businessmen as well as give a strong message to its critics, so that everyone is disciplined in a particular way and avoiding criticisms of the government.

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There are also reports about Lai Xiaomin saying that he criticized the policies of the current Chinese President, only after which he was arrested and action taken against him. More than 1.5 million government officials have been punished so far in China under the anti-corruption campaign launched under Xi Jinping. Due to this, a kind of fear is being seen between government officials and corporates. Especially after Lai Xiaomin was sentenced to death, the Xi administration is under question, as capital punishment is not a normal punishment in cases of corruption. Terming it as against international standards, activists have also demanded the conversion of Lai’s sentence into a life-long business.

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