Jack Ma, the billionaire co-founder of Alibaba, all but disappeared from the public eye following a brush with Chinese regulators in 2020. But last week, Ma returned to China just as Alibaba announced plans to split into six independently run companies. WSJ’s Jing Yang explains what it all means.  Further Reading: - Jack Ma Engineered Alibaba’s Breakup From Overse as - Jack Ma’s Life After Alibaba Takes Him to a Fish Farm, Fiji and Beyond  - Alibaba Co-Founder Jack Ma Returns to China After a Year Away  Further Listening: - Why the Biggest IPO Ever Blew Up  - Didi's IPO Gets Caught In China's Tech Crackdown  - Xi Jinping Is Rewriting the Rules of China's Economy  Learn more about your ad choices. Visit megaphone.fm/adchoices