the same month, Ma also partnered with Sir Li Ka-shing in a joint venture to offer a digital wallet service in Hong Kong. Ma announced on 10 September 2018 that he would step down as executive chairman of Alibaba Group Holding in the coming year. Ma denied reports that he was forced to step aside by the Chinese government and stated that he wants to focus on philanthropy through his foundation. Daniel Zhang would then lead Alibaba as the current executive chairman. Ma stepped down from the board of Alibaba on 1 October 2020. Disappearance from the public eye News outlets noted a lack of public appearances from Ma between October 2020 and January 2021, coinciding with a regulatory crackdown on his businesses. The Financial Times reported that the disappearance may have been connected to a speech given at the annual People's Bank of China financial markets forum, in which Ma criticized China's regulators and banks. In November 2020, the Financial Times reported the abrupt cancellation of the Ant Group's anticipated initial public offering (IPO) after an intervention by financial regulators. According to Chinese bankers and officials, financial stability was the objective behind the intervention. Some commentators speculated that Ma may have been a victim of forced disappearance, while others speculated that he could be voluntarily lying low. Ma made a public appearance again on 20 January 2021, speaking via video link to a group of rural teachers at a charitable event, the annual Rural Teacher Initiative. In February 2021, Bloomberg reported that he was seen golfing at the Sun Valley Golf Resort in the Chinese island of Hainan. In March 2021, Ma and Alibaba were ordered by Chinese regulators to sell off certain media companies, including Hong Kong's South China Morning Post, as part of a Chinese campaign to curb the influence wielded by giant digital conglomerates. In October 2021, Reuters reported Ma was on the Spanish island of Mallorca shopping at a local store. His superyacht was anchored in the Port of Andratx. In November 2022, Ma was reportedly living a low profile life in Tokyo, Japan, for nearly six months, and occasionally traveling abroad. Entertainment career In 2017, Ma made his acting debut with his first kung fu short film Gong Shou Dao. It was filmed in collaboration with the Double 11 Shopping Carnival Singles' Day. In the same year, he also participated in a singing festival