Reports from China indicate that the Chinese government may be working on a plan to nationalize Jack Ma's Alibaba and the Ant Group. China's ruling Chinese Communist Party (CCP) has gone further ahead with the antitrust investigation into e-commerce giant Alibaba."Based on tip-offs received by the State Administration for Market Regulation in recent days, the administration will be investigating Alibaba ... for suspected monopolistic activities," the government said.The investigating agencies had set up an office at the Alibaba headquarters in November. Apart from the e-commerce giant,...…Reports from China indicate that the Chinese government may be working on a plan to nationalize Jack Ma's Alibaba and the Ant Group. China's ruling Chinese Communist Party (CCP) has gone further ahead with the antitrust investigation into e-commerce giant Alibaba."Based on tip-offs received by the State Administration for Market Regulation in recent days, the administration will be investigating Alibaba ... for suspected monopolistic activities," the government said.The investigating agencies had set up an office at the Alibaba headquarters in November. Apart from the e-commerce giant,...WW…

Shares in Chinese tech giant Xiaomi crashed as much as 11 percent on Friday after the Trump administration blacklisted it, along with nine other Chinese companies. Xiaomi, China's No. 2 smartphone maker that has huge markets across Europe and Asia was placed in the military blacklist by the US government on Thursday.The top two executives at the company together lost more than $4.5 billion on a single day in the massive selloff on the markets. Lei Jun, the chief executive officer, is estimated to have lost a whopping $3 million, while Lin Bin, the vice-chairman, lost around $1.5 billion....…Shares in Chinese tech giant Xiaomi crashed as much as 11 percent on Friday after the Trump administration blacklisted it, along with nine other Chinese companies. Xiaomi, China's No. 2 smartphone maker that has huge markets across Europe and Asia was placed in the military blacklist by the US government on Thursday.The top two executives at the company together lost more than $4.5 billion on a single day in the massive selloff on the markets. Lei Jun, the chief executive officer, is estimated to have lost a whopping $3 million, while Lin Bin, the vice-chairman, lost around $1.5 billion....WW…