The Wall Street Journal: Jack Ma gives up ownership of Alibaba entities for Chinese business licenses

BEIJING — Chinese e-commerce tycoon Jack Ma has surrendered his ownership of entities that hold Alibaba Group Holding Ltd.’s business licenses in China.

Ma, 54, relinquished his ownership in Alibaba’s main “variable interest entities,” Alibaba confirmed Monday. Those entities typically allow Chinese technology companies to take investments from overseas entities. The news was earlier reported by the Financial Times.

The change was made to reduce the administrative burden on Ma and was disclosed in a filing with the Securities and Exchange Commission in July, Alibaba BABA, -0.94% said.

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