The cryptocurrency market has been disrupted by interventions by China’s governments, but it certainly does not mean a full-blown ban on digital currencies, says financial analyst Winston Wenyan Ma, former managing director at China Investment Corporation (CIC), adjunct professor at NYU, and investor. The government is still defining the scope of digital currencies, and focuses on minging and trading, and is certainly no banning ownership, he says at Verify.
The main difference with the rest of the world is that in China social media and e-commerce merged into platforms, says China marketing guru Ashley Dudarenok. When you want to dive into China, you have to pick your platform and realize they are different from what you are used to, she adds. Most likely you have to pick one of them.
Alibaba and Tencent were high-profile casualties as the central government stepped in to regulate free-wheeling tech firms with growing financial clout. To the relief of consumers and smaller competitors, exponential growth in the tech industry is over, tells Winston Ma, former managing director of the sovereign wealth firm China Investment Corporation (CIC) in New York to Reuters.
China’s government shocked the fintech industry by introducing firm financial measures, similar to the banking sector. Ant Financial even had to cancel its massive IPO. But what we have seen is only the start of more government action to regulate the internet, says fintech expert Sara Hsu in the Diplomat. Managing capital and data are key elements.
The aging founders of the first-generation modern companies in China are trying to survive their first generational switch and private equity funds try to help them digitize their operations to move on, says Winston Ma, adjunct professor at New York University School of Law and former managing director of the sovereign wealth fund China Investment Corporation (CIC) in the Global Finance Magazine.