motif
10/28/2022, 00:33:33
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even if they've high revenue. Their RD expediture is negligible. For example, Alipay has been delisted as a high tech company by SH government, it won't enjoy SH policy benefits such as tax cut for high tech companies anymore. What this means is they've no innovation, their market is given to them by the government, which can easily take away from them, such as nationalize the online payment system, or give the market to another company, with negligible impact to the economy.
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