He was referring to the Chinese billionaire's speech in late October where he reportedly appeared to criticize regulators during a controversial speech. Ma is the founder of Chinese e-commerce giant Alibaba, which owns a roughly 33% stake in Ant Group. Days later, Ant's dual-listing in both Shanghai and Hong Kong was suddenly suspended, sending shares of Alibaba plunging. "Clearly, this was an excuse by the leadership and probably the state banks to crack down on the entire fintech … sector," Collier said.