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Chinese state newspaper omits Jack Ma from list of entrepreneurial leaders

Stock MarketsFeb 02, 2021 12:15AM ET
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2/2 © Reuters. FILE PHOTO: Alibaba Group's Jack Ma attends the WAIC in Shanghai 2/2

SHANGHAI (Reuters) - Alibaba (NYSE:BABA) Group founder Jack Ma has been left off a list of Chinese entrepreneurial leaders published by state media - the snub underscoring how just far he has fallen out of favour with Beijing.

China's best known businessman was not mentioned in an front-page article published by the Shanghai Securities News. Instead Huawei Technologies' Ren Zhengfei, Xiaomi (OTC:XIACF) Corp's Lei Jun and BYD's Wang Chuanfu were lauded for their contributions.

It was published on Tuesday when Alibaba will also report its latest quarterly earnings. The e-commerce giant did not immediately respond to a request for comment.

The catalyst for Ma's current woes was an Oct. 24 speech in which he blasted China's regulatory system, leading to the suspension of his Ant Group's $37 billion IPO just days before the fintech giant's listing.

Regulators have since launched an anti-trust probe into the tech sector with Alibaba taking much of the heat, while tighter regulations for Ant Group are also being considered.

Ma, who is not known for shying away from the limelight, subsequently disappeared from the public eye for about three months, triggering frenzied speculation about his whereabouts. He re-emerged last month with a 50-second video appearance.

The Shanghai Securities News said that while some of the entrepreneurs it praised had once behaved like "reckless heroes" in their efforts to break away from an old, rigid economic system, they now led "a group of companies that respected the rules of development and abided by market rules."

Chinese state newspaper omits Jack Ma from list of entrepreneurial leaders
 

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Comments (6)
William Smith
William Smith Feb 02, 2021 8:26AM ET
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That Chinese State Newspaper doesn't hold a candle to the propaganda from the NYT and WaPo.
David David
David9 Feb 02, 2021 1:56AM ET
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Jack Ma will be back...
Rambo Rambi
Rambo Rambi Feb 02, 2021 1:14AM ET
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Baba earnings will be huge .
ZS Beck
ZS Beck Feb 02, 2021 1:08AM ET
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Who cares, if the Chinese people love the current system over there, then keep living the dream. I'm not interested any Chinese stock anyway. Ali Baba and the rest of the garbage .
Din Joekhannaz
Din Joekhannaz Feb 02, 2021 1:04AM ET
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this should remind us to not let the gov becoming too big, and becoming tyrant
William Smith
William Smith Feb 02, 2021 1:04AM ET
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Way to late on that one Din in the USA.
The Chad Bull
The Chad Bull Feb 02, 2021 1:04AM ET
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Who cares... physical gold and silver are all that will survive the pending collapse
 
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