Jack Ma, a model of China’s successful entrepreneur, has lived overseas for more than a year. Today, it is reported that he was born in Hangzhou and has become the focus of attention from the outside world. Bloomberg reported that Ma Yun may be one of Beijing’s best opportunities to repair the government’s reputation among private companies.
Jack Ma, co-founder of Alibaba Group and fintech giant Ant Group, one of China’s most prominent corporate leaders, disappeared following criticizing Chinese regulators in a public speech in Shanghai in 2020, Bloomberg News reported. before the public.
But as China’s President Xi Jinping consolidates power and refocuses on the country’s economy, the new leadership hopes to project an image of the government as pro-business.
However, people familiar with the matter who requested anonymity revealed that the Chinese authorities had tried to persuade Jack Ma, who was traveling overseas, to return to China to help show Beijing’s support for the business community; Research agricultural technology.
People familiar with the matter said that Jack Ma told senior executives of Ant Group and Alibaba not to be too obsessed with whether he would return to China; he emphasized that even if he was overseas, he would do his best to assist them.
Hangzhou Private Yungu School posted on its official Weibo account today that Jack Ma visited the school today. In addition to discussing topics such as the popular chat robot ChatGPT, he also mentioned that he hopes to return to teaching one day.
Bloomberg pointed out that Ma Yun’s disappearance for a long time highlighted the distrust of Beijing among entrepreneurs and global investors, even though China’s new Premier Li Qiang has expressed his “unwavering support” for private enterprises.
Li Qiang mentioned at the National People’s Congress this month, “for a period of time last year, there were some incorrect comments and remarks on the development of the private economy in the society, which made some entrepreneurs worry.” He also said: “When performing approval, supervision and other responsibilities, the relevant departments cannot just step on the brakes and not step on the gas pedal.”
Christopher Marquis, one of the authors of the book “Mao and Markets: The Communist Roots of Chinese Enterprise” (Mao and Markets: The Communist Roots of Chinese Enterprise, tentative translation), said: “The message sent by (Beijing) is to support the private sector. Businesses, but strong state control and ideology will still prevail. Businesses are still in the hands of the party.”
China’s popular technology banker Bao Fan suddenly disappeared in February, rekindling doubts among China’s business elite that the authorities’ crackdown on the private sector has not yet ended.
George Magnus, author of the book “Red Flags: Why Xi’s China Is in Jeopardy” (Red Flags: Why Xi’s China Is in Jeopardy), pointed out that the Chinese government’s approach is still to give priority to the party and state institutions. Private enterprises are allowed to develop, but “on condition that they pursue and respect the goals and philosophy of the party”.
An entrepreneur in Zhejiang said that the private sector has not recovered significantly from the government’s suppression. He said the state’s iron fist was omnipresent, and Beijing’s pledged support had not yet paid off.
For security reasons, the founder of a medium-sized private company, who only wants to disclose his surname Hu, said that regardless of whether Ma Yun returns to China to settle down, the impact of the suppression of entrepreneurs may continue. “I would say the bigger our enterprise is, the more dangerous it is for us.”
He said: “Jack Ma should continue to be only the spiritual leader of his company and travel around the world. This is the safest choice. Forget regarding his ambitions.” Central News Agency 0327
