Alipay fiasco

Caixin has a summary of the Alipay fiasco and they've also written an editorial very critical of Alibaba founder Jack Ma. In sum, Jack Ma was seen as one of the country's leading entrepreneurs, earning widespread acclaim abroad as well as at home. His actions fit the foreign stereotype of shady Chinese business practices, stripping a company of the good assets while leaving the foreigners with the stub. Thus, he has caused damage not only to his own reputation and company, but to all of China.

Alipay Dispute

Of course, prices are falling anyway due to declining social mood and pure fraud cases are piling up, as overseas listed Chinese shares face intense scrutiny from short sellers.