英文摘要

《财经》杂志   

2020年11月23日 14:59  

本文3675字,约5分钟

Ant Group is Going Through Unprecedented Difficult Times; America’s Transfer of Power After Election Comes Across Unexpected Difficulties; China’s Special Campaign Against Organized Crime Will Conclude, But the Fight Will Continue; Market Competition Among Multinational Pharmaceutical Companies in China is Becoming Fierce

Ant Group is Going Through Unprecedented Difficult Times

Ant Group suddenly encountered a policy change on the eve of going public, which led to its IPO failure. This unexpected incident will have a profound impact on China’s fintech innovation and supervision future.

Sixteen years ago, Alipay (which is affiliated with e-commerce giant Taobao) declared that financial services will not be exclusive to a few people, but should instead become a service that every ordinary consumer can access at any time. In October 2014, Alipay’s parent company was named Ant Group. This company continues to wander the boundaries of innovation, challenging traditional financial regulations, and affecting the development of China’s financial industry. Just a month ago, Ant Group, which plans to list on the STAR Market, won the favor of 29 top strategic investors from around world with a total market value of 2.1 trillion yuan. It was expected to become the world’s largest IPO in history. But the unprecedented dramatic reversal of events occurred on the eve of its IPO.

 

America’s Transfer of Power After Election Comes Across Unexpected Difficulties

The national overall voter turnout rate in the 2020 US presidential election has reached an extremely high level of 65%. This intensity is far beyond the imagination of election experts and voters. Biden successfully won many swing states and re-established the “blue wall.” But Trump’s delay to admit defeat has added many obstacles to the transfer of power to president-elect Biden.

Although the two sides competed fiercely in swing states, the results of the election did not lead to the sort of violent conflicts that American society was bracing for.

Trump, who never considered the possibility of losing the election before, continued to play golf after the election and criticized election fraud on social media. He repeatedly reiterated that “I won the election” and blamed that the Democratic Party stole his victory. Michael Beschloss, a scholar who studies the history of American presidents, believes that the Trump administration’s refusal to hand over power after the election has seriously hurt the American democracy.

 

China’s Special Campaign Against Organized Crime Will Conclude, But the Fight Will Continue

The Chinese government’s three-year special campaign to crackdown on organized crime is about to come to a conclusion. Since then, the crackdown on gangsters will be carried out in an institutionalized and normalized manner, but it is still a difficult problem to fundamentally get rid of organized crimes and local bullies.

The results of the special campaign have been remarkable. Data released on September 25 showed that since October 2019 alone, 856 gang-related organizations and 2,458 gang-related crime groups have been destroyed nationwide, and 138,000 criminal cases involving gang-related crimes have been cracked. During this period, more than 25,600 cases involving criminal gangs and corruption were investigated and dealt with nationwide. Three years have passed in a flash, but the end of this special struggle does not mean the end of weeding out criminal elements.

 

Market Competition Among Multinational Pharmaceutical Companies in China is Becoming Fierce

For multinational pharmaceutical companies, the China International Import Expo, which concluded on November 10, 2020, was a platform that exhibited fierce competition. While exhibiting their own star products, pharmaceutical companies announced their ambitious plans for the Chinese market in the future. In particular, the competition for oncology drugs has become increasingly intense.

According to data released by the International Agency for Research on Cancer (IARC), China had 4 million new cancer patients in 2018. Moreover,China’s expenditures on cancer diagnosis and treatment was approximately US$9 billion. A series of policy changes (such as the reform of drug approval and the normalization of medical insurance negotiations) have benefited the overall drug market. However, the understanding and response of various multinational pharmaceutical companies to policies are different. This also affects their different determination and strategies in the Chinese market.