Shouqi forced its shareholding in Didi, and factional struggles within the CCP intensified!

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Translated by Gloria

According to the news in the wall, Shouqi Group, a subsidiary of Beijing Capital Travel Group, has invested in Didi, placing the online car-hailing giant, which was recently listed in the United States, under direct control of Xi Jinping.

 Didi Chuxing went public in the United States earlier this year and was subsequently suppressed by Xi.  The executive ordered the removal of more than a dozen applications derived from Didi, stopping the registration of new applications, and immediately launched a number of investigations into Didi, including data security and antitrust.  On September 1, the Ministry of Transport of the Communist Party of China, together with five ministries and commissions including the Central Cyberspace Administration of China, the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Administration for Market Regulation, jointly interviewed eleven online car-hailing platform companies, including Didi Chuxing, which showed that it is huge  The internal and external pressures caused a straight escalation in the struggle of factions within the party.

 Since the suspension of Ant Financial’s listing last year, Xi Faction has successively launched a series of clean-ups against Jiang Faction (aka “Shanghai Gang”) affiliated companies such as Alibaba, Tencent, Meituan, New Oriental, and Didi.  In order to ensure the continuation of the top 20 political status and power, and to fully seize financial control, Xi continued to launch new versions of political/economic and cultural movements such as “Common Wealth”, and carried out large-scale suppression and plundering of other factional capital forces in the party.  And these are the situations we most hope to see in the “community eradication” situation!

Source: https://www.voachinese.com/a/city-of-Beijing-said-to-seek-taking-Didi-under-state-control-20210903/6211350.html

Posted by Ivy

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