If you had any doubts, #China’s #XiJinping Was The One Who Pulled The Plug on @JackMa’s #Ant #IPO

The re­buke was the cul­mi­nation of years of tense re­la­tions be­tween Chi­na's most cel­ebrated en­trepreneur and a gov­ern­ment un­easy about his in­flu­ence and the rapid growth of the digi­tal-pay­ments be­he­moth he con­trolled. 

Mr. Xi, for his part, has displayed a diminishing tolerance for big private businesses that have amassed capital and influence—and are perceived to have challenged both his rule and the stability craved by factions in the country's newly assertive Communist Party.

Read the whole story on The Wall Street Journal:

China's President Xi Jinping Pulled Plug on Jack Ma's Ant IPO