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by deepVoid
2507 days ago
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It is not true that all major Chinese companies began as state-owned enterprises. Alibaba, Tencent, Baidu etc. are all private. They were started by their founders and funded by VC money. For instance, Alibaba was started by Jack Ma and 17 others. It is privately-owned by shareholders, none of which is state or government[1]. For some other industries such as banks, railway, oil etc., it is different. They are mostly state-owned. But tech is not one of them. [1] https://www.marketscreener.com/ALIBABA-GROUP-HOLDING-1791667... |
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