Alibaba's Ma Yun, a Target of US-China Tensions, Studies 'Sea Shrimp Farming' in Thailand

Recent Updates After Ant Group's Loss of Control
Previously Studied Japanese Tuna and European Agriculture

Ma Yun (58), the founder of Alibaba, China's largest e-commerce company, is reportedly studying agriculture and fisheries in Thailand. Ma Yun recently lost control over Ant Group, a subsidiary of Alibaba.

On the 10th (local time), the South China Morning Post (SCMP), a Hong Kong media outlet owned by Alibaba, cited an anonymous source saying, "Ma Yun left Japan and arrived in Thailand to continue studying agriculture and fisheries." The source added, "Ma Yun spent time in Japan studying fisheries and tuna (bluefin tuna) farming, expanding his interest in sustainable agriculture and the food industry. During his recent trip to Thailand, he visited a sea shrimp farming facility."

SCMP further explained that Ma Yun's visit to Thailand took place amid the trial operation of the "Free Trade Zone" project introduced at the "Global Digital Trade Expo" held last month in Hangzhou, China, where Alibaba's headquarters are located. This project is a digital hub plan established in 2018 while Ma Yun was still chairman of Alibaba. The "Free Trade Zone" is located within the Eastern Economic Corridor (EEC), a special economic zone comprising three regions in eastern Thailand.

Alibaba founder Jack Ma

In October 2020, Ma Yun publicly criticized Chinese regulators, saying "Fintech regulations are overly conservative" and "Chinese banks operate like pawnshops." Following this, Ant Group faced intense regulatory scrutiny, resulting in the complete withdrawal of its IPO listings on the Hong Kong and Shanghai stock exchanges, which was once called the "world's largest IPO" valued at 44 trillion won. Ma Yun refrained from public activities for three years afterward, sparking rumors of disappearance. Ultimately, on the 7th, Ant Group decided to significantly reduce Ma Yun's voting rights, causing him to lose control.

Ma Yun, who fell out of favor with the Chinese government, has occasionally shared updates through SCMP. Previously, photos surfaced showing Ma Yun visiting a shrimp farm, a Michelin-starred restaurant, and a Muay Thai stadium in Thailand. It is known that he spent three months in the latter half of last year in Japan studying the food industry at tuna farms and agricultural research institutes. Before that, he reportedly visited agricultural technology research institutes in the Netherlands and Spain to learn agricultural technologies.

However, a source told SCMP, "Ma Yun does not plan to live permanently overseas and has resolved to bring the advanced agricultural technologies he learns abroad back to his hometown, Hangzhou, in the future."