media platforms have already stopped ranking the pop stars, which used to be very popular on waymo -- weibo. and they have a competitive and wasteful culture inside the talent show. these measures are having support from the chinese medicine and chinese citizens. a lot of the normal citizen see the toxic effect of the extreme behavior and the extreme reaction to the rise of the k pop culture. rather than the foreign companies in the foreign entertainment providers worrying , those who have more concerns are actually the domestic providers and the domestic entertainment producers because they don't know when the rules will be tightened again or when the government will impose additional measures to make their lives in the space to operate harder and smaller. the unpredictability of the whole thing is having more effect on the domestic providers than the foreign providers. >> he makes an interesting point. here we have this international audience and this domestic audience as well. the new james bond film has just passed the chinese sensor. james bond is not a socialist. he does not embody so

fall in line alibaba is investing more than $15 billion to support the common prosperity goals and weiboof followers this they were deemed by beijing as bad mouthing chinese financial markets. >> thank you for more on the china crack down let's turn to joyce chang at jp morgan great to speak with you again. >> great to be with you, melissa. >> you're a long bull on china but right now you say it might be pruden to be on the the side lines. why. >> it is for the equity markets good to be on theed side lines when china talks about common prosperity, they're talking about long-term. acleaving common prosperity by 2035 so i think it is difficult i think you could see this extend further and they've been very clear if you look at the five-year plan, at the sectors that they're going to target, that is related to innovation and also to the green agenda and it is also focused on income inequality so you could see more measures that are coming out that effect the housing market, and higher property taxes, and also more pressure to increase wages given the level of the disposable income in china,

funding small and medium sized companies and farmers and when the social media platform weibo shut stock tip accounts that have millions of followers but that have been deemed by beijing to be bad mouthing the financial markets as well as economic policies >> let's pick up on this because we're also hearing out of china this move to create a beijing stock index, crack down on more speculative areas of stock trading. what do we know and how does that fit into this move against ride hailing firms >> we don't know a whole lot of detail at this point in terms of the way it might relate to ride-hailing firms, not so much except that there's been some speculation that this is one way that president xi could try to attract other companies that list overseas to china because the government here is trying to support the -- and promote a lot of the financial markets here in china, vis-a-vis -- compared to other parts of the world so this new market in beijing is going to be focused very much on small and medium sized companies. president xi said the government is going to deepen the reforms for th

she was born in canada it's being celebrated across chinese social media as well places like weibo andlobal brands she's young though, she's going to have to keep winning and keep playing but obviously, the world is her oyster. >> yeah, also such an interesting situation having essentially come from something of a long shot position. so there wasn't like this build up where there was already a little bit of a so to speak, a market for her endorsement services and things like that. by the way, made a stir here >> oh, yeah. >> on that point, i just add as well, of course any massive sports star like she now always does, but how refreshing that an 18-year-old sports star like herself wanted to come to the stock exchange both her parents work in finance. only just finished her exams in the uk studying economics an maths. nice that we top the list for a really cool young sports star. >> almost seemed like she was more excited to be at the stock exchange to be there than at the met gala last night, where she was also there and on the red carpet and loo looking gorgeous her tour continues she