Comment on How Jack Ma Went from Being a Poor School Teacher to Founding AlibabaparentComments−rahimnathwani11yThat's an over-simplification. Less than 8% of the group's assets are held by the Variable Interest Entity (VIE) which has the ICP licence:http://www.chinaaccountingblog.com/weblog/alibaba-sets-the-v...The remaining assets are presumably owned by companies whose beneficial owners are the shareholders in the Cayman Islands company.
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That's an over-simplification. Less than 8% of the group's assets are held by the Variable Interest Entity (VIE) which has the ICP licence:
http://www.chinaaccountingblog.com/weblog/alibaba-sets-the-v...
The remaining assets are presumably owned by companies whose beneficial owners are the shareholders in the Cayman Islands company.