In response to the decision to continue China’s Secretary General Xi Jinping (President )’s third term, on the 24th the financial market was wary of the concentration of power in Mr. Xi and the country’s business millionaires together lost more than 9 billion dollars (about 1.34 trillion yen) of assets.
Bloomberg billionaireindexAccording to the report, Ma Huateng, CEO of tech giant Tencent Holdings and Zhong Ruilu, president of bottled water producer Nongfu Shanquan and the richest man in China, earned more than $ 2 billion on the same day, according to the report. . The share prices of both companies plummeted. Alibaba Group’s Jack Ma, Baidu’s Li Yanhong, and JD.com’s Liu Qiangdong are not on the list. The reason is that the three companies are mainly listed on the US market.
Bad day
The richest Chinese lose billions after the Communist Party congress
Source: Bloomberg Billionaires Index
Hong Kong’s Chinese financial markets are posting sales sales
“Today’s sales reflect weak investor sentiment,” said Kenny Wen, head of investment strategy at KGI Asia. “People are trying to understand more about the implications of the new regime for the Chinese economy,” he said.
news-rsf-original-reference paywall">Original title:China’s richest lose $ 9 billion in selloff after Xi’s reshuffle(extract)
