If there was ever a sign that Beijing wants to make nice with the private sector, it was Jack Ma shaking hands with the Chinese leader.
Ma’s photo is raising eyebrows as he meets Xi Jinping at a high-profile meeting along with China’s top tech moguls.
The Alibaba co-founder, once the poster boy for China’s entrepreneurial spirit, had been keeping a low profile since his infamous fallout with regulators in 2020.
Why Ma Disappeared?
Jack Ma disappeared from public view after he publicly criticized China’s financial regulators.
In 2020, he called traditional banks’ practices outdated and restrictive.
This didn’t sit well with authorities, and shortly after, Chinese regulators abruptly halted the $37 billion IPO of his fintech company, Ant Group.
What followed was a broader government crackdown on the tech sector, with increased regulations and scrutiny on powerful entrepreneurs like Ma.
Is this a carefully managed comeback, or just a reminder that even China’s biggest business moguls must play by the rules?
