Chinese leader Xi Jinping. Figure: CCTV (file photo)
The Wuhan pneumonia epidemic has recently re-emerged in various parts of China, but the government has always insisted on a dynamic clearing, resorting to strict closure and control measures, making it more difficult to travel between counties and cities, and at least 343 million people have been affected. Even Shan Weijian, CEO of Asia’s largest private equity fund Hong Kong Pacific Alliance Group (PAG) and independent director of Alibaba, is dissatisfied and bluntly said that the market’s sentiment towards the Chinese stock market is at its lowest point in the past 30 years, while the dissatisfaction of the Chinese people is at the highest level in the past 30 years. At the highest point, he pointed out that the zero-clearing policy has put China’s economy into a “semi-paralyzed state”.
The “Financial Times” disclosed the audio-visual materials of the meeting between Shan Weijian and his agent. The head of PAG, which is in charge of more than 50 billion US dollars, said that China’s economy is currently in the worst state in the past 30 years, and a large part of China’s economy has been affected by Strict epidemic prevention and control policies have been semi-paralyzed, with far-reaching impacts. Market sentiment towards the Chinese stock market is at its lowest point in the past 30 years, while Chinese public dissatisfaction is at its highest point in the past 30 years, and his fund has diversified away from China and invested in China Combinations are extremely cautious.
A person familiar with the meeting told the Financial Times that Shan Weijian’s conversation was recorded during a meeting with brokers as part of Pacific Alliance’s Hong Kong IPO promotion. The “Financial Times” report specifically mentioned that Shan Weijian is one of the most well-known senior financiers in Hong Kong and mainland China. He founded PAG in 2010 and served as the co-managing partner of TPG Capital Asia, a private equity group, and led the JP Morgan China team. In March of this year, Shan Weijian was also appointed as an independent director of Alibaba’s board of directors and a member of the audit committee.
At present, 46 cities across China are in full or partial lockdown. Construction sites and factories are closed. The short-term labor market bears the brunt. Analysts roughly estimate that, including temporary workers, the lives of at least 343 million people will be affected. In Beijing, the capital of China, there are a large number of temporary workers who bear the brunt of their livelihoods. They can only make money for 10 days a month. It is a problem to eat and drink enough. When some Chinese temporary workers talk about the government, they can’t help but scolded: “Now the Communist Party of Xi Jinping In this world, it is not allowed to look for work, not only does not give preferential treatment to temporary workers, but also sends people to attack.”