Jack Ma, Trump and Xi: How the Chinese billionaire flew close to the sun
The meeting on Jan nine came at a fourth dimension of taut tensions between the two countries after Trump was critical of China during his ballot campaign, blaming information technology for the loss of American jobs.
A spokesperson for Trump did not respond to a asking for comment.
The 4 people close to Alibaba said they believed the coming together was a negative turning point in the relationship betwixt Ma and Beijing. They did non elaborate on their thinking.
Investors are hungry for clues nearly Ma'south situation: The mere sighting of the businessman on the Spanish isle of Mallorca concluding calendar month, his first trip abroad in over a year, immediately saw Alibaba gain equally much every bit US$42 billion in value.
The story of his fall from official favour helps illustrate how rapidly China has transformed under Eleven Jinping, as he nears what could exist a precedent-breaking tertiary term as leader of the economical powerhouse and exerts greater control over some of its most innovative companies.
"A NATURAL FIRST TARGET"
Authorities cracked down on Ma'south business empire afterwards he gave a oral communication in Shanghai in October last year accusing financial watchdogs of stifling innovation.
Regulators suspended the US$37 billion listing of his fintech firm Emmet Group 2 days before the planned debut on Nov 5, ordered that Ant be restructured and launched antitrust investigations into Ma's businesses, somewhen leading to a record United states$two.75 billion fine for Alibaba in April.
The clampdown has spread across the individual sector, with officials tightening oversight of companies in engineering science, existent estate, gaming, educational activity, cryptocurrencies and finance.
"Given that Jack appeared besides provocative, out of pace with the new approach to governance consort past Eleven, he was a natural first target to signal that a major alter had begun," said Duncan Clark, chairman of Beijing-based investment advisory firm BDA China and author of a volume on Alibaba and Ma.
"Jack was rubbing shoulders regularly with foreign presidents, prime ministers, royalty, celebrities at places similar Davos or on his own visits overseas. There was a constant stream of VIP visitors to see him in Hangzhou too."
Ma'due south global outreach did not end after the Trump meeting, though.
Between 2022 and 2022 he held talks with a host of high-contour figures, including United nations Secretary-General Antonio Guterres, Queen Rania of Jordan, Malaysia'southward veteran politician Mahathir Mohamad and so Belgian premier Charles Michel, according to Alibaba's news portal Alizila and media reports.
At Alibaba'southward Hangzhou headquarters, information technology has a edifice housing the company's museum where Ma and his concern partner Joe Tsai would accept foreign visitors and show them around, according to some other person close to Ma.
Tsai did not reply to a request for comment via Alibaba.
Ma had viewed meetings with strange politicians as "unofficial affairs" for Prc, which he enjoyed doing, the person added.
Alibaba told Reuters it had a invitee reception facility widely known as Pavilion 9 that offered a visual bout of its history and an overview of its businesses. Information technology has hosted a wide variety of guests at the exhibition hall in its headquarters, it added.
The visitor did non respond to other queries for this story.
"Only LIKE YOU AND ME"
In a sign of how life has inverse for 1 of Communist china's well-nigh successful and influential businessmen, Ma requested an audience with at to the lowest degree two people in Eleven'south inner circle in the weeks post-obit the blocking of Ant's listing, only his requests were turned downwardly by both, said two dissever sources briefed by those people.
The billionaire subsequently wrote directly to Eleven before this year offering to devote the rest of his life to China'south rural education, according to a government source who said the president spoke about the alphabetic character at a meeting of the country's senior leaders in May.
Reuters could non determine whether Xi approved of or responded to the offer, which has not been previously reported, or precisely when Ma, a one-time English language teacher, penned the cannonball.
The Alibaba-endemic South China Morning Post said concluding month Ma was visiting Europe on an "agronomics and engineering study tour related to environmental issues", citing a person familiar with his itinerary.
Last week the paper published pictures of Ma wearing a white protective gown and holding flowerpots. It said he would proceed touring European companies and research institutions involved in agricultural infrastructure and institute convenance, citing people familiar with his plans.
Tsai, the co-founder of Alibaba, played down his long-fourth dimension associate's influence in a rare interview almost the elusive billionaire with CNBC's Squawk Box show in June.
"He'south lying depression right now. I talk to him every day," Tsai said. "The idea that Jack has this enormous amount of power, I remember that's not quite right," he added.
"He is just similar you and me, he's a normal individual."
Source: https://cnalifestyle.channelnewsasia.com/business/jack-ma-alibaba-china-xi-jinping-donald-trump-295041
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