Jack Ma will no longer be able to control the affairs of the Ant Group

Jack Ma, the founder of Chinese multinational business giant Alibaba and Ant Group, will no longer be able to control the company’s affairs.

According to foreign media, several shareholders of the company have agreed to some changes, after which Jack Ma will have to relinquish most of the voting rights.

Hong Kong economists say Jack Ma’s departure from his self-founded company shows the Chinese leadership’s determination to reduce the influence of big private investors.

According to foreign media, a Chinese business official said it was clear that Jack Ma would no longer be a shareholder of the company.

According to reports, the current state of China’s economy is in a bad state, in which the private and technology sectors are particularly important.

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