A week before the fintech Ant Group went public, Chinese President Xi Jinping called the proceedings to a halt.<br />Business Insider reports Xi stopped the historic $37 billion initial public offering after its founder, Jack Ma, criticized government leaders.<br />At a conference in Shanghai, Ma made incendiary comments that didn't go down well with the president or other government officials.<br />Ma dismissed global banking rules, saying they got in the way of innovation.<br />As large private businesses accumulate wealth and power in the communist nation, Xi has displayed a low tolerance for them as they threaten his authority.
