This article suggest that the authorities’ moves in China against Alibaba are related to:
- its mobile payment system, Alipay, might generate financial risks, and what specific problems they create for the regulators. Nor do many link Alibaba’s drama to another hot spot: the issuance of digital renminbi by the People’s Bank of China (PBOC). In fact, as this article will try to illustrate, the two stories are deeply related. The tension between Alibaba and the monetary authority of China lies in the nature of a privately operated mobile payment system.
A great weekend read! Link here