Chinese language state newspaper omits Jack Ma from record of entrepreneurial leaders By Reuters
© Reuters. FILE PHOTO: Alibaba Group’s Jack Ma visits WAIC in Shanghai
SHANGHAI (Reuters) – Alibaba (NYSE 🙂 Group founder Jack Ma has been banned from a list of Chinese entrepreneurs published by state media – the nudge underscores how far he has fallen out of favor with Beijing.
China’s most famous businessman was not mentioned in an article on the front page of the Shanghai Securities News. Instead, Ren Zhengfei from Huawei Technologies, Lei Jun from Xiaomi (OTC 🙂 Corp and Wang Chuanfu from BYD were commended for their contributions.
It was released on Tuesday when Alibaba will also announce its latest quarterly results. The e-commerce giant didn’t immediately respond to a request for comment.
The trigger for Ma’s current suffering was an October 24 speech in which he blew up China’s regulatory system and, a few days before the fintech giant went public, suspended its Ant Group’s $ 37 billion IPO.
Regulators have since launched an antitrust investigation into the tech sector, with Alibaba taking on much of the heat, and tighter regulations are also being considered for the Ant Group.
Ma, who is not known to shy away from the limelight, subsequently disappeared from the public for about three months, sparking furious speculation about his whereabouts. He reappeared last month with a 50-second video appearance.
Shanghai Securities News said some of her lauded entrepreneurs once behaved like “ruthless heroes” in their efforts to break away from an old rigid economic system, but now “ran a group of companies that governed the rules of the world Development respected and market rules observed. “
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