China Arrests Ma Mou Who Outlined an ‘Interim Congress’

Chinese Communist Party leader Xi Jinping and other leaders applaud during the closing session of the rubber-stamp legislature’s conference at the Great Hall of the People in Beijing on March 11, 2022. Leo Ramirez/AFP via Getty Images

Analysis

On May 3, Beijing revealed the investigation of a national security case involving a person with the surname Ma. The coverage immediately caused Alibaba’s stock to tumble more than 9 percent in a day, because people took it that the co-founder of Alibaba, Jack Ma, had been arrested.