The news of Jack Ma’s return comes on the final day of the China Development forum, a government-funded event being held in Beijing

China saw 229 of its billionaires drop off the Hurun Global Rich List with Jack Ma, founder of e-commerce giant Alibaba, falling to 52nd place from 34th

The move signifies Beijing's changing priorities as it looks to strengthen is capabilities while Washington cuts off access to cutting edge technology

Baidu also said earlier this week it will soon finish internal testing for a ChatGPT alternative called 'Ernie Bot'

The China State Administration for Market Regulation, which is responsible for stopping monopolistic behavior, has fined Alibaba, Tencent and numerous other companies.

Beijing's harsh regulatory crackdown means Ant now stresses its autonomy, to the point that Alibaba might even compete with its one-time sister company

India's Ministry of Corporate Affairs and the Mumbai Police have launched investigations into Alibaba Cloud (India) LLP, sources have told The Economic Times

Leading the charge will be Trudy Dai, a founding member of the company, who has been tasked with revitalizing Alibaba's business and organization

The Alibaba stock surge came despite the group declining to provide a forecast for the current fiscal year because Covid-19 risks clouded its outlook

Covid lockdowns in China lifted Alibaba's earnings, thanks to surging demand for cloud services as millions of citizens work from home and shop online

Paytm E-commerce bought back a combined stake of 43.32% for 42 crore rupees ($5.4 million), valuing the company at just around 100 crore rupees ($10.2 million)

Shares plunged, then recovered, after CCTV revised a report to make clear the individual involved was not billionaire Alibaba founder Jack Ma