The founder of JD.com Richard Liu has stepped down as chief executive of the Chinese ecommerce group he founded more than two decades ago, marking the latest exit for one of the country’s top entrepreneurs.
Beijing’s months-long campaign to rein in Big Tech has spurred several Chinese entrepreneurs to flee executive roles in favour of working from behind the scenes, as private business in the country comes under greater regulator scrutiny.
ByteDance founder Zhang Yiming shed his formal titles last year, while the chief executive of its main Chinese rival, Kuaishou, also moved to lower his profile.
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