China Crackdown Wipes Hundreds of Billions Off Top Companies’ Values

China Crackdown Wipes Hundreds of Billions Off Top Companies’ Values
A logo of Tencent is seen during the World Internet Conference (WIC) in Wuzhen, Zhejiang Province, China, on Nov. 23, 2020. Aly Song/Reuters
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SHANGHAI—China’s regulatory crackdown has ensnared sectors from technology to education to property, wiping hundreds of billions off the market capitalizations of some of its largest companies and putting investors on alert over who may be next.

Here are some of the largest names that have been affected so far.

Alibaba Group

The woes of China’s biggest e-commerce company began in late 2020 when China abruptly suspended the record $37 billion stock market debut of its financial affiliate Ant Group and later fined Alibaba $2.75 billion for abusing its market dominance.