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Jack Ma Escapes Beijing’s Crosshairs by Giving Up His Power

  • Ma has traveled in Europe, dining and studying agriculture
  • He plans to cede control over the fintech giant Ant Group
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WATCH: Jack Ma is planning to relinquish control of Ant Group, according to the Dow Jones. Bloomberg Opinion columnist Shuli Ren shares her views.

Source: Bloomberg

Jack Ma is taking a weeks-long tour in Europe after largely disappearing from public view for almost two years, adding to signs that China’s government is easing pressure on the entrepreneur as he steps back from a business empire that had made him one of the country’s most powerful people.

The 57-year-old co-founder of Alibaba Group Holding Ltd. has popped up at restaurants in Austria, toured a university in the Netherlands to learn about sustainable agriculture and docked his yacht off the Spanish island of Mallorca, according to reporting by Bloomberg and local media.