The empire of Jack Ma, Alibaba Group and Ant Group, has come under unprecedented pressure from Chinese regulators for months. Ant Group, which includes China’s largest digital payment platform, Alipay, has refused to share its users’ data and information with the authorities.

The public speech on October 26, 2020 during the Bund Summit in Shanghai, Jack Ma compared Chinese banks to pawnshops, and the lack of a comprehensive system that regulates financial services in China, irritated the political elite in China.

Jack Ma has disappeared from public life in the last two months and the whole world is waiting for the development of events between Jack Ma’s empire and Beijing.

The chairman of the Council on Economic and Diplomatic Relations, Zheng Zhong, also commented on the situation with Kovid-19 in China, as well as the economic challenges that China is facing.