Jack Ma, the founder of Alibaba, is returning to China, ending his one-year stay abroad -SCMP | – #Jack #founder #Alibaba #returning #China #oneyear #stay #SCMP

BEIJING, March 27 (Reuters) – Alibaba ( 9988.HK ) founder Jack Ma has returned to China, the South China Morning Post (SCMP) said on Monday, ending more than a year of business overseas. The sober mood of China’s private businesses.

Ma, one of China’s best-known entrepreneurs, left mainland China in late 2021 and has since been spotted in photos in Japan, Australia and Thailand.

Once one of the country’s most outspoken businessmen, he is 2020He retreated from the public spotlight in late 2010 after criticizing China’s regulatory system and was later accused of instigating a large-scale regulatory crackdown by Beijing.

While Chinese authorities have said in recent months they are ending the crackdown and will look for ways to support the private sector, Chinese entrepreneurs have said they see Ma’s decision to stay abroad as a confidence-building factor.

Shares of Alibaba in Hong Kong rose more than 4% after the SCMP report was published.

The SCMP report did not say when Ma returned to China, but cited sources as saying he visited a school he founded in Hangzhou, home to Alibaba and financial technology firm Ant Group.

He added that he had returned to China after a short stopover in Hong Kong.

Alibaba did not immediately respond to requests for comment. Monday schoolYungu Education said on its WeChat account that Ma visited its premises and posted photos and videos of the Alibaba founder at the school.

Ma also recently relinquished control of Chinese fintech giant Ant Group in an overhaul that has sought to draw a line under broader regulatory pressure.

Report by Beijing Newsroom; Edited by Gerry Doyle and Muralikumar Anantharaman

Our standards: Thomson Reuters Trust Principles.

2023-03-27 10:58:44
Source – reuters

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