Jack Ma Gave up the Ant Group, CCP to “Rob the Rich to Help the Party’

According to foreign media reports on January 9th, since the end of 2020, the CCP regulators have launched multiple rounds of suppression on Jack Ma’s business empire, and Jack Ma gave up control of Ant Group last week. This sparks another discussion on the internet about “robbing the rich and helping the poor”.

Miles Yu, former chief adviser on China policy at the US State Department, said that the CCP’s efforts to rob the rich and help the poor were essentially “robbing the rich and helping the Party,” rather than helping the poor. Miles Yu said in a tweet on Monday that the purpose of the CCP’s reform and opening up is to rob the rich and help the poor.

Therefore, the recent greetings from the Party Central Committee to Jack Ma were already within the calculation of the chief designer. Of course, those who have robbed the rich benefit the party but not the poor, and polarization has not been prevented. A netizen said in his post that it sounds good, robbing the rich and helping the poor. It’s a complete robbery, otherwise it wouldn’t be called a communist bandit.

Xi Jinping also wants to redistribute social wealth under his goal of “commonwealth”. As a result, companies such as Alibaba, Tencent and Didi have been scrutinized and fined. In April 2021, Communist China regulators imposed a record fine of about USD $2.55 billion on Alibaba Group. Over the past two years, Alibaba and Tencent have lost more than $1 trillion in market value. Analysts responded to the news that Jack Ma gave up control of Ant Group, saying: “This is a hard lesson for Chinese entrepreneurs.”