Economy

French media believe that the disintegration of Jack Ma’s empire represents the end of China’s crazy economic growth. (Archyde.com, AFP, synthesized by this newspaper)

[Financial Channel/Comprehensive Report]The Alibaba Group founded by Jack Ma has been split into 6 companies under the suppression of Xi Jinping, officially declaring the disintegration of the Alibaba empire. French media believe that this can be regarded as the end of China’s crazy economic growth, or even the end of an era.

Simon Leplâtre, Le Monde’s Shanghai correspondent, expressed his views on the disintegration of Jack Ma’s empire. The French translation pointed out that in the autumn of 2020, Jack Ma made provocative speeches in front of government officials, which became the source of the Chinese authorities’ sweeping of Internet platforms. Xi Jinping also condemned the disorderly expansion of private enterprise capital.

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Not long following, Ma Yun disappeared for 3 months, and market rumors abounded. In April 2021, the Chinese authorities fined Ali 18 billion yuan on the grounds that Alibaba abused its dominant position in the market.

Ant Financial, a subsidiary of Alibaba, was forced to restructure and became a thorn in the side of traditional financial institutions. In early 2023, Jack Ma relinquished control of Ant Financial, retaining only 6% of the company’s board of directors.

In just a few years, Ma Yun and Alibaba have gone from being the darlings of Beijing and the objects of capital pursuit, and finally becoming the targets of killing chickens and monkeys, and finally split their empire into 6 subsidiaries. This can be regarded as a symbol of the end of China’s crazy economic growth, and even a The end of an era.

Andy Xie, an independent economist in Shanghai, said that since the CCP came to power, it has been determined to control money and information. For the Beijing authorities, Alibaba is not only too rich, but also too powerful to gain a majority of more than 1 billion Chinese Internet users. data. But for Beijing, it is only the CCP that has the right to control social dynamics.

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According to how I see activities

While inflation has weighed heavily on household budgets for more than a year, its consequences do not only affect our shopping basket. Our hairballs are also victims of the increase in the cost of living because, for lack of means, many households decide to part with their animal, which caused a 15% increase in abandonments in the first quarter of 2023.

The president of the SPA, Jacques-Charles Fombonne, thus deplored at the microphone of RTL the situation of the shelters already almost at saturation: “6,400 animals are present today while our nominal capacity is 7,500”.

These figures are all the more alarming as the summer period, which each year represents a peak in abandonments due to departures on vacation, is fast approaching.

The difficult economic context also has a negative impact on adoptions, 25% of French people delaying them for financial reasons linked to inflation, while 21% give up altogether according to a survey carried out by OpinionWay for the SPA.

LINZ. The VKB celebrates its 150th anniversary with around 600 guests in the Palais Kaufmännischer Verein in Linz. VKB supervisory board chairman Matthäus Schobesberger and VKB board director Alexander Seiler were honored with awards from the state of Upper Austria and the Upper Austrian Chamber of Commerce. Moderator Silvia Schneider hosted the evening.

In entertaining talks, the VKB board directors Markus Auer, Maria Steiner and Alexander Seiler went into the success story of VKB and its importance for entrepreneurial and private SMEs in Austria. Provincial Governor Thomas Stelzer, Bishop Manfred Scheuer and Linz Mayor Klaus Luger also spoke regarding the importance of the VKB for Upper Austria as a business location. VKB board director Markus Auer, Helvetia board member Werner Panhauser and ski world champion and two-time Kitzbühel winner Daniel Yule chose a sporting approach: It takes performance and hard work if you want to achieve success – whether in sport or in business.

Other guests of honor of the evening included the second president of the state parliament, Sabine Binder, member of the state parliament Magrit Angerlehner, WKOÖ president Doris Hummer, the superintendent curator Renate Bauinger from the Evangelical Church and numerous other representatives from politics, business, culture, science and interest groups.

awards given

Special honors were bestowed on VKB Supervisory Board Chairman Matthäus Schobesberger and VKB Executive Board Director Alexander Seiler in front of the 600-strong audience: Both received the Economic Medal of the WKOÖ in silver from WKOÖ President Doris Hummer.

Governor Thomas Stelzer also presented Alexander Seiler with the Silver Medal of Honor of the State of Upper Austria for his services to the economy and society in Upper Austria. Matthäus Schobesberger received the Gold Medal of Honor from the State of Upper Austria for his decades of service as an entrepreneur and member of the Supervisory Board.

150 year history

The VKB was founded in 1873 as a credit bank for Upper Austrian handicraft businesses and farmers. In April 2021, Markus Auer (sales and marketing), Maria Steiner (credit, accounting and risk) and Alexander Seiler (infrastructure, IT, human resources and treasury) took over management of VKB as the management team and began to gear it back towards entrepreneurial and private SMEs to align “We are a medium-sized company ourselves, so we understand medium-sized companies,” says Markus Auer.

In May 2023, VKB presents one of the best financial years in its history: With an increase of 98.4 percent compared to the previous year, it doubled its operating result in the 2022 financial year to 21.3 million euros, the POA increased from 14.2 million euros (2021) to 18.0 million euros.