The Big Take
Jack Ma’s Retreat Undercuts China’s Pitch to Private Business
Even as leaders voiced “unwavering support” for the private sector, one of the country’s best-known entrepreneurs chose to spend months overseas.
Jack Ma all but disappeared from public life after critiquing Chinese regulators in 2020.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Jack Ma might be one of Beijing’s best chances at repairing its reputation with the private sector in China and beyond. But the billionaire has been circumspect about invitations from authorities.
One of China’s most recognizable business leaders, the co-founder of Alibaba Group Holding Ltd. and financial technology giant Ant Group Co. all but disappeared from public life after critiquing Chinese regulators in a 2020 public speech in Shanghai.