China Straussian poem-sharing mistake of the day

Shares in Chinese food delivery giant Meituan have fallen sharply after its boss reportedly shared a 1,000-year-old poem on social media.

The Book Burning Pit by Zhang Jie was posted, then deleted, by the firm’s billionaire chief executive, Wang Xing.

The Tang dynasty poem was interpreted as a veiled criticism of President Xi Jinping’s government.

Meituan is currently under investigation over allegations of abusing its market dominance.

The company is one of China’s biggest takeaway food delivery and lifestyle services platforms and is backed by technology giant Tencent…

Despite the statement, Meituan’s Hong Kong-listed shares have fallen by around 14% since the market opened on Monday morning. Investors are jittery as Chinese business leaders who have been seen to criticise the government have found their companies come under intense scrutiny from authorities.

Here is the full story.  Via Rich D.

Comments

Comments for this post are closed