China’s most renowned businessman and technology pioneer was notably unnamed in a list of entrepreneurial leaders published by state media.
Xinhua-backed «Shanghai Securities News» named rival tech giant Tencent’s Pony Ma, electric carmaker BYD chairman Wang Chuanfu, Xiaomi's Lei Jun and Huawei’s Ren Zhengfei in a recent report featuring the nation’s top entrepreneurs.
«A generation of Chinese entrepreneurs emerged from the rigid structures of our old economic system with the desire to escape poverty and passion to achieve business ambitions,» the report said. «They have breathed new life into China’s economic reforms.»
Notable Absence
Ma’s absence from the list is being spotlighted after mainland China’s recognizable famous businessman delivered his infamous «pawn shop» speech – a move which subsequently led to his $35 IPO pullout, restructuring of Ant Group and a nationwide antitrust probe against the broader tech sector.
Interestingly, Tencent is also a dominant player in China’s payments industry – it was censured by regulators in December last year over failure to declare mergers and acquisitions. State media’s mention of its founder and CEO Ma in the positive light could create calm for those worried it might not avoid some of the risks being faced by Jack Ma’s Alibaba and Ant Group.
