Jack Ma gets back into business with ‘Ma’s Kitchen Food’

Ma’s whereabouts and activities have been the topic of intense discussion since 2020, when he stepped away from the limelight after Beijing clamped down on his twin companies – Alibaba and Ant Group Co – as part of a broader campaign to contain an increasingly powerful private sector. — Reuters

Jack Ma sparked speculation about his next endeavours after the billionaire seeded a small company to process and sell farming produce, in his latest venture since retreating from the spotlight at the height of a government-led industry crackdown.

The co-founder of Alibaba Group Holding Ltd set up “Hangzhou Ma’s Kitchen Food” last week with an initial registered capital of 10mil yuan (RM6.54mil), according to corporate database Tianyancha. The business involves the sale of packaged agricultural products, according to information on China’s National Enterprise Credit Information Publicity System.