but they're 'smashing' the likes of Ant Financial who were doing predatory, unsecured lending on an unprecedented scale.
So IMO the thesis of smashing 'Internet' companies is incorrect - they're just making sure economy doesn't go into bubble territory (lending fuels spending) and the likes of Jack Ma, who are detached from the party don't get too much power/money.
The Chinese central government was always really ambivalent about foreign IPOs. DiDi has too much control over domestic markets for the Chinese to be comfortable with foreign influence. I don't think it has anything to do with the anniversary.
Actually, the CCP never formally accepted the foreign stock ownership structure, for example. It was always a grey area.
