...that escalated quickly. Ant's business model is under the hood good old lending and banking, where their "innovation" excels at minimizing the barrier to spend your future money. This is not like Google or Microsoft, whose products are purely technology, this is a glorified financial company. And the more money they raise, the larger / crazier scale their lending will affect. Just to give you a hint, their "savings account" equivalent has way higher interest rate than the national banks, but with same level of account numbers if not more, that would need consistently piling money to sustain. Essentially they will become "too big to fail" if the IPO goes through, and you know how that went in 2008.

Yeah I guess Xi and co are scared, but for a different reason. Nothing about the foreign policies or whatever you think "freedom" is.