Jack Ma, the poster boy of China’s tech scene, is moving into the food business

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  • Jack Ma, the founder of Alibaba, has established a new company called “Hangzhou Ma Kitchen Food”.
  • It is involved in the sale of prepackaged foods and processing and retailing of agricultural products, per SCMP.
  • In the year After retiring from Alibaba in 2019, she became interested in agribusiness.

Alibaba founder for years Jack Ma He’s been the poster child for China’s tech industry — but it looks like he’s moving into the food business.

On Wednesday, Ma established a company called “Hangzhou Ma’s Kitchen Food” in the city where Alibaba is located. Media reports. Hangzhou is Ma’s hometown.

The company’s registered capital is 10 million Chinese yuan, or $1.4 billion, owned by Alibaba. South China Morning Post He reported citing the official National Enterprise Credit Information Notification System corporate registry.

Hangzhou Ma Kitchen Food is wholly owned by Ma investment vehicle Hangzhou Dajingtu. No. 22 art and culture. The company is engaged in sales of pre-packaged foods and processing and retailing of agricultural products, through SCMP.

Ma’s interest in agriculture seems to have started in 2020 following the government’s crackdown on business. Beijing is angry A critical discourse about China’s financial-control system.

The titan of technology – known for speaking and Sparkling Personality – He disappeared from public view for two years after the attack. His personal wealth Tank, and the companies lost hundreds of billions of dollars. Since then he has kept a low profile, just doing it A rare public appearance.

Instead, he has been traveling the world studying agrotech for the past few years.

In October 2021 Ma was studying technology in agriculture and environmental issues in Spain. He traveled to where he was. Netherlands, JapanAnd Thailand To study agrotech.

In May, Tokyo College announced Ma held a teaching position while researching sustainable agriculture and food production.

He was in January Thailand, He dined with Supakit Cheravanont, Chairman of Charon Pokpand Group. Animal feed manufacturer.

Ma retired from Alibaba in 2019. His foundation, the Jack Ma Foundation, did not immediately respond to a request for comment from Business Insider.

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