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

Source: Wall Street Journal October 01, 2018 03:45 UTC