Chinese billionaire and Co-founder of Alibaba group, Jack Ma has reportedly gone missing for more than two months. He has not made any public appearances for the past two months. According to the media reports, the mystery about his whereabouts intensified when he did not appear in the final episode of his talent show Africa’s Business Heroes.
During the final episode, an Alibaba official made an appearance in place of Ma. According to an Alibaba spokesperson, Ma did not participate in this episode due to his busy schedule.
Jack Ma criticized China’s financial regulators during a speech:
Let us tell you that Ma criticized the Chinese government on an issue in October last year. According to reports, he has not had a public appearance since the suspension of Ant Group’s IPO. He criticized China’s financial regulators and state-run banks during a speech at Shanghai in October 2020. He had called on the government to make changes in the systems that suppress innovation efforts in business.
Chinese market regulator began an investigation against Alibaba:
China’s top market regulator began an investigation against Alibaba in December last year after Ma adopted an anti-incumbency stance, alleging his involvement in anti-competitive methods. According to a report by TechCrunch, the ‘People’s Bank of China’ called the Ant Group for talks on 26 December. During this time the banking authority laid a five-point compliance agenda for the ANT group.
Under the agenda, Ant Group was ordered to bring more transparency in the transaction. The company is accused of using its position in the market to outmaneuver its rivals and harm the rights and interests of consumers. On the other hand, Ant Group says it has set up an internal reform workforce to meet all regulatory requirements.
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