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Ma said a lot of businesses in China and the US will be in trouble in the short term, and eventually, Chinese firms will be forced to turn to other countries.
Ma will stay on till 2019 and Zhang will retain the CEO post when he becomes the chairman.
Ma will remain on the company's board of directors and continue to mentor its management.
Richard Liu, was arrested on suspicion of criminal sexual conduct and later released after what the company said was a false accusation.
Official data show internet regulators received 6.7 million reports of illegal and false information in July.
The company already has a revenue sharing partnership with Future Retail, which owns hypermarket stores like Big Bazaar.
Google aims to woo tens of millions of new internet users in the country to its digital payments services.
Berkshire Hathaway Inc run by billionaire Warren Buffett confirmed in an email that they had invested in One97 Communications Ltd.
Elevated by 3 stout metal legs, the device is wrapped in black fabric with a flat top with touch-enabled control buttons.
Balance Tech is a Bengaluru-based smart-savings management start-up.