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Alibaba Discloses CCP State Ownership Holding ‘Golden Shares’ in More Than 12 Business Units

Experts say it’s the CCP’s ‘joint state-private ownership 2.0’ where the ’state advances and private sector retreats.'
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Alibaba Discloses CCP State Ownership Holding ‘Golden Shares’ in More Than 12 Business Units
The logo for Alibaba Group is seen on the trading floor at the New York Stock Exchange in Manhattan, N.Y., on Aug. 3, 2021. Andrew Kelly/Reuters
By Alex Wu
2/29/2024Updated: 3/1/2024
0:00

Chinese tech giant Alibaba disclosed in documents filed in the United States and Hong Kong over the weekend that part of its stakes in more than a dozen entities are held by Chinese state-owned enterprises or foreign sovereign wealth funds, in response to an inquiry from the U.S. Securities and Exchange Commission.

The Chinese communist regime has wider control of Alibaba than previously known to the outside world, especially the “golden shares” held by the regime to control it and other private Chinese technology companies have drawn wide attention.

Alex Wu
Alex Wu
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Alex Wu is a U.S.-based writer for The Epoch Times focusing on Chinese society, Chinese culture, human rights, and international relations.
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Related Topics
Alibaba
Jack Ma
nationalization
golden shares
joint state-private ownership
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