Ali-pay, Alibaba, Ant Financial, BangNiTou, China, elite theory, Great Reset, Great Reset and China, institutional investors, Investments, Monopoly Capital, Power Elite, ruling elites, Shanghai, Vanguard Group, wealth management
Short, and to the point video:
“CHINA AND THE GREAT RESET: WHAT YOU NEED TO KNOW “
Among other things, the above, short, video talks about how US pension funds have been invested in China.
So, if you see a different (long) video on the Great Reset, and they talk about these investment funds, but don’t mention China, you had better wonder why. That’s all the more true, when the maker of the long video claims to be from the Netherlands – in French, and traditionally in English, the “Low Countries”, but there are high mountains behind him, like those seen in Teheran, and he looks and sounds Middle Eastern, looks like a “spook” stereotype, and his alleged name is similar to a district of Iran. There are lies of omission and of commission. He may indeed be from the Netherlands, and omitted the facts through ignorance. However, people who watch the other video need to wonder…
A video, or article, can have a large part of truth, but through ignorance, malice, or lack of time, leave out critically important facts. The focus needs to be on the interaction between western elites and the rest of the world. There is a long tradition of elite theory, which many people don’t seem to know about anymore. It’s not new: https://en.wikipedia.org/wiki/Elite_theory What needs to be examined is the connections between American and European elites and the elites in the rest of the world – China, India, Russia, etc.
Here’s what Vanguard is up to in China. Holding 49% of shares means they have a large stake but don’t have the majority shares. And, they can only work in China with China’s blessing. So, who rules?. Weird that BangNiTou is so similar to Covid vaccine maker BioNTech (Pfizer partner):
“Vanguard gave up on mutual funds in China, but it may have found a different way into the market PUBLISHED THU, MAR 18 2021 3:57 AM EDT
By Evelyn Cheng, CNBC:
In less than a year, more than 1 million users have signed up for “BangNiTou,” a smartphone-based investment advisory product run through Vanguard’s joint venture with Alibaba-affiliate Ant Group.
That’s according to a release from BangNiTou on Thursday, just four days after Vanguard said it would drop its own pursuit of a mutual fund license in China…
Vanguard’s joint venture with Ant launched in late 2019. Ant holds the majority stake at 51%, according to Chinese business database Qichacha.
The Alibaba-affiliated company claims about 1 billion users worldwide. It became an early player in China’s wealth management industry with its Alipay-linked money market fund “Yu’e bao,” which had around 1.7 trillion yuan in assets under management at its peak in early 2018.
Late last year, Chinese authorities abruptly suspended Ant’s plans for what would have been the largest initial public offering to date. Beijing has subsequently increased its regulation on fintech and said the industry should be subject to the same rules as banks….” http://web.archive.org/web/20210316151359/https://www.cnbc.com/2021/03/18/vanguard-gave-up-on-mutual-funds-in-china-but-working-with-ant.html
“On 26 December 2020, the Ant Group was ordered by the People’s Bank of China to “rectify” its business and formulate an implementation timetable. The central bank also summoned Ant executives, saying that the Group lacked an effective governance mechanism, defied regulatory compliance requirements and engaged in regulatory arbitrage.. On 15 January 2021, Ant Group announced that it would be overhauling its business structure in accordance with the Chinese central bank and its financial regulators’ wishes. State spokesmen announced that the Ant Group’s consumer finance branch will be regulated as a financial institution rather than a technology startup. In April 2021, Ant Group applied to become a financial holding company under the direction of the Peoples’ Bank of China as part of a plan imposed by regulators. As part of the plan, the company stated that lending services Jiebei and Huabei will be reorganized under a regulated consumer finance company. “. https://en.wikipedia.org/wiki/Ant_Group
“Ant Financial and Vanguard Announce Partnership to Bring Inclusive Wealth Management Services to More Consumers in China
NEWS PROVIDED BY
Dec 13, 2019, 14:23 ET
SHANGHAI and VALLEY FORGE, Pa., Dec. 13, 2019 /PRNewswire/ — Vanguard, the $5.9 trillion U.S.-based asset manager, and Ant Financial Services Group, operator of the world’s leading payment and lifestyle platform, Alipay, today announced a partnership to bring a new streamlined and broadly-available investment advisory service to retail consumers in China.
Combining Alipay’s technology and Vanguard’s expertise in investment management and advisory services, the two companies’ joint venture will provide a fund investment advisory service, as approved by the China Securities Regulatory Commission (CSRC), to Chinese individual investors.
“Since opening our Shanghai office in 2017, we have been dedicated to bringing Vanguard’s way of investing to Chinese investors,” said Vanguard CEO Tim Buckley. “This venture marries Vanguard’s time-tested investment philosophy and approach with Ant’s digital platform and technology to fundamentally change for the better how individuals in China invest.”
The joint venture will provide customized services for investors based on their investment objectives, time horizon, and risk preferences, with minimum investments of RMB 800 (approximately USD 113) and accessible through Alipay and Ant Fortune, a comprehensive wealth management platform operated by Ant Financial. Previously, professional investment advisory services were only accessible to a small number of high-net-worth individuals in China.
“Alipay is committed to making finance more inclusive for individuals and small and micro businesses through technology, and we’re partnering with financial institutions around the world to achieve this by building an open and technology-driven ecosystem,” said Eric Jing, Chairman and CEO of Ant Financial. “Combining our technology with Vanguard’s investment advisory expertise will make high-quality wealth management services simpler, smarter and more inclusive.”
For more than four decades, Vanguard has led the U.S. asset management industry in lowering the cost and complexity of investing. With a long-standing mission to take a stand for all investors, to treat them fairly, and to give them the best chance for investment success, Vanguard is widely recognized for bringing high-quality, low-cost solutions to more than 30 million investors around the world.
“We are excited about the opportunity to help millions of investors. Through this partnership with Ant Financial, investors will have access to investments and advice previously unavailable to them. Ant Financial has been a true partner as we work together to improve the investing lives of the people of China,” said Charles Lin, CEO of Vanguard Asia and Chairman of Vanguard Investment Management (Shanghai) Limited.
Alipay serves more than 1.2 billion users around the world with its local e-wallet partners, providing users with access to a wide range of services needed in daily life, from hailing cabs, paying utility bills, making doctor’s appointments, to wealth management. Users can purchase money market funds on Yu’e Bao, the spare cash management platform within Alipay app, as well as other wealth management products offered by asset management companies on the Ant Fortune platform.
The new partnership brings together two industry leaders and showcases each organization’s particular strengths. Ant Financial, which is dedicated to using technology to bring inclusive financial services to the world, and Vanguard, with its significant experience serving investors and deep investment management expertise.
“Today, millions of Chinese investors lack access to professional investment advisory services. Through this partnership, we will reduce complexity and significantly lower the threshold for individual investors to access high-quality wealth management advice in China,” said Peter Zhang, CEO of the joint venture. “We are delighted to bring this important service to more people in China and look forward to supporting the sustainable growth of the wealth management industry.”
About Vanguard Vanguard is one of the world’s largest investment management companies. As of October 31, 2019, Vanguard managed US $5.9 trillion in global assets. The firm, headquartered in Valley Forge, Pennsylvania, offers 423 funds to its more than 30 million investors worldwide. For more information, visit vanguard. com or follow us on Twitter @Vanguard_Group.com.
Vanguard officially launched its Wholly Foreign-Owned Enterprise (WFOE) in China on May 25, 2017 – Vanguard Investment Management (Shanghai) Limited – in the Shanghai Free Trade Zone. For more information about Vanguard Investment Management (Shanghai) Limited, visit http://www.vanguard. com.cn.
About Ant Financial
Ant Financial Services Group, officially established in October 2014, is an innovative technology provider that aims to bring inclusive financial services to the world. Headquartered in Hangzhou, China, we are the operator of Alipay, an online payment service launched in 2004 which has since evolved into the world’s largest payment and lifestyle platform.
As a member of the Alipay digital economy, Ant Financial is working hand in hand with Alibaba Group to make it easy to do business anywhere in the world. Through our innovative technologies, Ant Financial is committed to helping global consumers and small- and micro- enterprises gain access to inclusive financial services that are secure, green, and sustainable, creating greater value for society and bringing equal opportunities to the world.” https://www.prnewswire. com/news-releases/ant-financial-and-vanguard-announce-partnership-to-bring-inclusive-wealth-management-services-to-more-consumers-in-china-300974761.html