Jack Ma's statement caused a loss of two and a half million crores to Alibaba, know complete matter
Jack Ma's statement caused a loss of two and a half million crores to Alibaba, know complete matter
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Beijing: Jack Ma, the owner of Chinese company Alibaba, has suffered a major setback. A small mistake by Jack Ma has cost him a loss of Rs 2.5 lakh crore. A statement from his mouth suffered him a loss of two and a half million crores. A word uttered by Jack Ma stopped the world's largest IPO ent.

The Chinese brokerage house said that there was a bit of pungency in the words of our Jack Ma, but the pawnshop words he said were not baseless. Then why is this action being taken against Jack Ma only by targeting him, while in recent years the Bureaucrats of the People's Bank of China have also used similar words.

Jack Ma, China's richest businessman, made a controversial statement on China's banking system on a high profile financial platform in Shanghai. In his speech, he called the Global Banking Basel Agreement "old people's club" and also said that Chinese banks are like pawn shops (mortgages or mortgage shops), where bail and guarantees meet with great difficulty.

The very next day, Beijing's top financial regulator called Jack Ma and rebuked him. The Shanghai Stock Exchange suspended Ant's listing on its StarBoard citing the amendments of the regulator. In return, it happened that Alibaba's shares fell sharply in the New York Stock Exchange and together they lost two and a half million crores.

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