Aug 19, 2023 | Although the financial industry in China is still in its infancy, 7% of Chinese people are already investing, and millions more are being added every month. Western investors are also lining up to benefit from China's economic growth. For years, Wall Street gave China wide latitude to raise money on the international capital market, such as with Jack Ma's Alibaba IPO. In 2020, when Ma also wanted to take his new company Ant Group public he no longer did so on Wall Street but simultaneously in Shanghai and Hong Kong. That plan strained the relationship between China and Planet Finance. By whose rules will the game ultimately be played?
