Ma Yun refused China's invitation to return to China and lived around the world.

(European News Agency)

[Financial Channel/Comprehensive Report] "Bloomberg" quoted sources as saying that Chinese authorities have been trying to persuade Alibaba (Alibaba) founder Ma Yun to return to China to show the government's support for the business community, but Ma Yun said that he has withdrawn from the company. He also said that he would focus on researching agricultural technology in the future to refuse the invitation to return home.

In recent years, the Chinese government has cracked down on various industries, from real estate to online platforms to education, and cracked down on private economic activities. The global business community has increasingly doubted Beijing's commitment to supporting private enterprises.

The government regards Jack Ma as the best candidate to repair the reputation of the government and the private sector, and invites him to return to China for development, hoping to create a pro-business image.

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According to people familiar with the matter, Jack Ma declined the invitation and chose to stay overseas, saying that he had withdrawn from the company and would focus on researching agricultural technology in the future.

Ma told Ant Group and Alibaba executives not to dwell on his return, stressing that he was committed to their success, even at a distance.

China's new premier, Li Qiang, emphasized the government's firm support for the private sector and said Jack Ma's absence from the Chinese business community could distrust entrepreneurs and global investors in Beijing.

Ma Yun criticized Chinese regulators at the Shanghai Bund Summit in 2020, saying that untimely regulation would stifle innovation in China, and ridiculed traditional financial institutions as "pawn shops."

Days later, regulators called off Ant Financial’s IPO, shaking global markets.

Ant Financial still plans to go public eventually, but is unlikely to complete an IPO this year, according to people familiar with the matter.

It is reported that Ma Yun has been living in Japan for about half a year, and regularly travels to and from the United States, Israel and Southeast Asia.

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