[Asia Economy Reporter Lee Chun-hee] Reports have emerged that Jack Ma, the founder of Alibaba, who is reportedly effectively banned from leaving the country amid a massive crackdown by the Chinese government, is enjoying a vacation in Spain.
Taiwan's Central News Agency reported on the 19th that Hong Kong's Chinese weekly magazine Dongzhoukan stated in its latest issue that Jack Ma is currently vacationing in Spain. According to related reports, Ma traveled to Spain on the 16th via a private jet and is said to have set sail on his luxury yacht at the famous resort destination Ibiza. Prior to this, it was also reported that Ma left mainland China and stayed in Hong Kong, where he met with business partners.
However, this report has not yet been confirmed as fact. No related reports have appeared in major media outlets in Greater China or the West.
But if this report is true, it would suggest that Jack Ma's movements have become freer after being effectively banned from leaving the country following his public criticism of the government last year and the subsequent crackdown on Alibaba.
After Jack Ma publicly criticized the government, the Chinese Communist Party and government abruptly halted the IPO of Ant Group, Alibaba's fintech affiliate. Since then, China has implemented extensive regulations not only on Alibaba but also on internet companies and various private enterprises.
In particular, Alibaba has faced ongoing pressure, including a 3.3 trillion won antitrust fine imposed last April. Jack Ma has reportedly ceased most of his external activities, and his influence within the Alibaba group has been significantly reduced.
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