Alibaba's Jack Ma ventures into food industry, launches ready-made food firm

Jack Ma, who is known as the poster boy for China's tech industry has ventured into the food industry by establishing a new company, "Hangzhou Ma's Kitchen Food," focused on selling prepackaged meals and engaging in the processing and retail of agricultural products.

The company, inaugurated in Hangzhou, China, where Alibaba is headquartered, was registered with a capitalization of 10 million yuan ($1.39 million), according to Qichacha, a corporate data provider.

Founder of Alibaba Group Holding, Ma's interest in this sector appears to have surged following government scrutiny of his businesses starting in 2020 after a critical speech about China's financial-regulatory system. Subsequently, Ma had maintained a low profile, withdrawing from public view for two years while his companies faced substantial financial losses.

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During this time, Ma reportedly explored agriculture technology globally. He was seen in Spain, Japan, the Netherlands, and Thailand studying agrotech and environmental issues related to agriculture.

In May, he was announced to take up a teaching position at Tokyo College, focusing on research in sustainable agriculture and food production.

Despite stepping down from Alibaba's board in 2020, Ma remains influential within the company and holds partnerships. His recent move into the food industry reflects his continued involvement in business and technology, expanding his interests beyond the tech sphere.