Chinese e-commerce giant Alibaba announced on March 28 that it will split into six units, as news emerged that its co-founder Chinese billionaire Jack Ma has returned to China per the communist party’s request, after spending more than a year overseas.
China observers believe this shows that Beijing’s policy toward privately-owned large Chinese tech companies has not fundamentally changed.
On March 27, the South China Morning Post, a newspaper owned by Alibaba, confirmed Jack Ma’s return to China. It reported that Ma visited Yungu School in Hangzhou City of Zhejiang Province on that day. The school was set up in 2017 by Ma and other founders of Alibaba….