The investment prospects of China’s tech sector have been clouded in recent years by questions about risky lending and President Xi Jinping’s push to assert greater state control over the economy. The abrupt halt in 2020 to the hotly anticipated plans for Ant Group’s public listing, after a speech by Mr Ma seen as critical of the government, sparked fears that have wiped billions in value from the sector. China has announced more than $1bn (£778m) in fines against financial companies including Jack Ma’s tech giant, Ant Group. Regulators cited violations of consumer protection laws and corporate governance. The firm, operator of payments firm Alipay, had been one of the most high profile targets as officials moved to tighten control of the sector. Will Ant Group survive under Xi Jinpin ?
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