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Bloomberg — Business — Private Sector Crackdown — Technology — China — Entrepreneurship

Jack Ma’s Retreat Undercuts China’s Pitch to Private Business

Jack Ma declines invitations from Chinese authorities to return and help showcase government support for the business community, underscoring the mistrust that entrepreneurs and global investors harbor against Beijing amid the private sector crackdown.

1 min read
  • Jack Ma declines invitations from Chinese authorities to return and help showcase government support for the business community.
  • Ma has retreated from his companies to focus on researching agriculture technology.
  • Ma’s lengthy withdrawal has underscored the mistrust that entrepreneurs and global investors harbor against Beijing.
  • Xi and his officials stress support for the private sector, but doubts run deep.
  • Ant Group is focused on overhauling its operations to appease regulators.
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.
Bloomberg

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