Where is Jack Ma, China's e-commerce pioneer?
FILE - In this May 15, 2019, file photo, founder of Alibaba group Jack Ma arrives for the Tech for Good summit in Paris. (AP Photo/Thibault Camus, File)BEIJING – China’s best-known entrepreneur, e-commerce billionaire Jack Ma, made his fortune by taking big risks. That has prompted a flurry of speculation about what might happen to Ma, China's biggest global business celebrity and a symbol of its tech boom. “The Jack Ma Era is ended,” wrote a blogger under the name Yueyue Talks Technology. Jack Ma dresses up in a leather jacket, sunglasses and wig to perform rock songs at Alibaba's annual employee festival in a Hangzhou.
Debut of Chinese e-finance giant derailed by fear of risks
In this Friday, Oct. 23, 2020 photo, the figure of Ant Group's mascot is displayed at the Ant Group office in Hong Kong. In an unusual move, it was due to trade in both Shanghai for mainland investors and in Hong Kong for international buyers. Alipay was split off from Alibaba in 2011 and evolved into Ant Group. “This reminds us of how unpredictable China is,” said Au Yeung, who works in finance in Hong Kong. Zhang Yuan, a bank employee in Shenzhen, near Hong Kong, said she paid 34,400 yuan ($5,100) for 500 shares of Ant Group.