He Jinbi, the founder of Chinese company Maike Metals International, has been arrested by Chinese authorities. This comes as part of President Xi Jinping’s ongoing crackdown on founders and executives of large firms. Maike Metals International, once China’s largest copper importer, has faced a liquidity crisis and filed for preliminary restructuring earlier this year. The company’s absence from the market has had a negative impact on China’s copper trade. Xi Jinping has been known for his crackdowns on the private sector, targeting prominent businessmen and entrepreneurs. This has raised concerns about the future of the private sector in China, which plays a significant role in the country’s economy. Several high-profile figures, including Jack Ma, the founder of Alibaba, have faced scrutiny and legal action from the government. The recent arrest of He Jinbi is in line with Xi Jinping’s pattern of cracking down on top Chinese businesses.

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Information	Details
Geography	Asia
Countries	🇨🇳
Sentiment	negative
Relevance Score	0
People	He Jinbi
Companies	Evergrande Group, ING Groep, Alibaba, China Renaissance, Tomorrow Holding, Tsinghua Unigroup, CEFC China Energy Company Limited, Dawu Group, HNA Group, Maike Metals International Co, Anbang Insurance Group
Currencies	Chinese Yuan
Securities	None