Udayavni Special

Alibaba faces scrutiny from Chinese govt, where is Jack Ma?

Team Udayavani, Jan 5, 2021, 5:12 PM IST


The suddence disappearance of Jack Ma, China’s famous businessman and one of the world’s richest men amid scrutiny by the Chinese government has led to several speculations.

According to reports Ma has not been seen in public for several weeks and notably an executive of Alibaba replaced him in his own talent show, Africa’s Business Heroes. A company spokesperson had claimed that Jack Ma couldn’t appear on the show due to a conflict in schedules.

People’s Daily reported that Jack Ma has been damned as a money-grabbing vampire who exploits people. The report even asserted that Ma is embracing supervision at an undisclosed location.

According to the reports, Jack Ma wouldn’t be the first high profile individual to disappear as there have been a few billionaires in China who suddenly disappeared.

During China’s anti-corruption drive between 2016 and 2017, number of billionaires went missing. While some reappeared and claimed that they were helping the authorities, others never came back.

Jack Ma’s disappearance is likely to be related to the Financial issues of Ant Financial Group.

Alibaba and Ant group, founded and guided by Jack Ma are currently faced with antitrust probe for alleged monopolistic practices.

Reports cite that Alibaba had been warned by the regulators for its practice where “merchants are required to sign exclusive cooperation pacts preventing them from offering products on rival platforms.”

In November 2020, Alibaba and Ant Group’s $37 billion initial public offering was suspended by the Shanghai Stock Exchange, raising concerns over the growth of online lending and its capacity to destabilise China’s financial system.

An anti-monopoly investigation has been launched into Alibaba.

Jack Ma came under intense scrutiny following his criticism where he called the banks in China as “pawn shops”.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Scientists develop rapid blood test to identify patients at highest risk of severe COVID-19

KBC 12: When Big B said “Yeh toh parivarik baat ho gyi ab” to Udupi’s Ravi Katapadi

More than 240 centres ready for vaccination drive in K’taka

This time too Aero India will be successful: Rajnath Singh at B’luru

Will not belie people’s expectations says MLA Angara

Govt-farmer meeting ends; Next round on Jan 19

RAF’s 97 Bn HQ’s stone laying at Shivamogga dist on Jan 16

Related Articles More

Nepal approves AstraZeneca’s India-made COVID-19 vaccine for emergency use

India, Japan ink pact to enhance cooperation in ICT

Indian-origin man kills daughter, mother-in-law in double murder-suicide in US

Pakistani intruder shot dead by BSF along International border in Punjab

Indian-American Garima Verma named digital director in Office of First Lady


Mangaluru: SDPI organises ‘SP kacheri chalo’ rally; called off after meeting with ComPol

COVID-19 Vaccine distribution in DK district’s 6 centres from tomorrow: DC Rajendra

Cabinet expansion unhappiness: No need to stand on road and whine says Nalin Kateel

Karkala : Success story of self employed woman Radhika Nayak | Inspirational Stories| Udayavani

Tempo-lorry collide near Dharwad bypass; more than 10 dead | Udayavani

Latest Additions

13-year-old boy forcibly made to undergo sex change, gang-raped for 4 years

Kundapura: Beachside residents demand Maravanthe-model breakwater

Scientists develop rapid blood test to identify patients at highest risk of severe COVID-19

KBC 12: When Big B said “Yeh toh parivarik baat ho gyi ab” to Udupi’s Ravi Katapadi

WhatsApp delays new privacy policy by 3 months amid severe criticism

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.