"Communists did the right thing," said Munger on what the Chinese regime did to Ma, in an interview with CNBC on June 29.

Munger, a longtime business partner of Warren Buffett, said the Chinese Communist Party (CCP) "just called in Jack Ma" and told him "you aren't gonna do it, sonny," pointing out that the Chinese tech billionaire was looking to "wade into banking" and "just do whatever he pleased."

"I don't want the, all of the Chinese system, but I certainly would like to have the financial part of it in my own country," Munger said.

Ma had publicly criticized China's financial industry in October last year, when he said that Chinese banks had a "pawnshop mentality" and added that the Chinese finance sector "basically doesn't have a system." After making the remarks, Ma disappeared, before making his first public appearance in January.

Meanwhile, the Chinese regime launched an antitrust probe against Alibaba in December last year, before slapping a fine of $2.8 billion on it in April for anti-competitive tactics. In response to the fine, Alibaba issued a statement saying the company was "full of gratitude and respect" since it "would not have achieved our growth without sound government regulation and service."

Alibaba's affiliate Ant Group has also been targeted. In April, Chinese regulators demanded the fintech group undergo a restructuring overhaul, five months after the company's $37 billion initial public offering (IPO) in Shanghai and Hong Kong was suspended.