Jack Ma

2023 - 3 - 28

Post cover — Image courtesy of "The Guardian"

Alibaba founder Jack Ma seen in China after months of absence (The Guardian)

Billionaire is thought to have remained outside country after state crackdown on tech sector.

The company in January Ma started the Alibaba website to link Chinese exporters to small businesses around the world, and later expanded it to other areas such as payments, consumer retail and cloud technology. Alibaba is one of China’s largest private companies and one of the few businesses that can rival the US tech sector for size. A return to China for Ma could herald an easing of government pressure on private companies and promote a more business-friendly attitude. Ma was an English teacher before founding Alibaba. The

Jack Ma: Alibaba founder seen in China after long absence (BBC News)

The 58-year-old reportedly visited a school that he founded in his hometown of Hangzhou.

We should use artificial intelligence to solve problems instead of being controlled by it," he said. Last November, the Financial Times newspaper reported that Mr Ma had been living in Tokyo, Japan for six months. Alibaba founder Jack Ma, who has rarely been seen in public in the past three years, has resurfaced at a school in Hangzhou, a report says.

Alibaba founder Jack Ma makes rare public appearance in China (Aljazeera.com)

The return of China's best-known entrepreneur may help quell concerns of private sector after regulatory crackdown.

“We should use artificial intelligence to solve problems instead of being controlled by it.” A record fine of $2.75bn was then imposed on the company for alleged unfair practices. It was not clear how long he plans to stay in China.

Alibaba founder Jack Ma back in China after months abroad in sign ... (CNBC)

Alibaba founder Jack Ma has been spotted in China in a potential sign that Beijing is warming to technology giants again after a crackdown on the sector.

And Chinese ride-hailing firm Didi, which faced a cybersecurity probe from regulators and was forced to delist from the New York Stock Exchange, [signaled it was looking to expand its business](https://www.cnbc.com/2023/03/16/chinas-didi-plans-expansion-after-beijings-crackdown-ends.html). Ma made comments that [ appeared critical of China's financial regulator](https://www.cnbc.com/2020/10/24/alibaba-founder-jack-ma-on-ant-group-ipo-pricing.html) prior to the listing cancellation. Ma has been traveling outside of China over the past few months and has been [spotted in Spain](https://www.cnbc.com/2021/10/20/alibaba-shares-surge-after-jack-ma-appears-in-europe-new-chip-release.html), Japan and Thailand. Allowing Ma back into the fold could be a recognition from Beijing that it needs private businesses to do that. [ worked to reinvigorate the economy](https://www.cnbc.com/2023/03/06/china-takes-a-cautious-approach-to-its-economy-in-2023.html). [licenses to foreign games](https://www.cnbc.com/2022/12/29/china-to-import-45-foreign-video-games-grants-multiple-licenses-to-tencent.html) to be released in China, for example. [slowly giving up control of the fintech firm](https://www.cnbc.com/2023/01/07/ant-group-founder-jack-ma-to-give-up-control-in-key-revamp-.html). [$2.6 billion antitrust fine in 2021](https://www.cnbc.com/2021/04/09/china-fines-alibaba-in-anti-monopoly-probe.html). [forced to shelve its massive listing](https://www.cnbc.com/2020/11/03/ant-group-ipo-in-shanghai-suspended.html) in Hong Kong and Shanghai. [since last year](https://www.cnbc.com/2021/10/13/billionaire-alibaba-founder-jack-ma-reappears-in-hong-kong-sources.html). [Alibaba](/quotes/BABA/) founder Jack Ma has been spotted in China after spending months abroad in a potential sign that Beijing is warming to technology giants again after a roughly 18-month crackdown on the sector. - Alibaba founder Jack Ma has been spotted in China after spending months abroad in a potential sign that Beijing is warming to technology giants again after a roughly 18-month crackdown on the sector.

Jack Ma returns to China as govt tries to allay private sector fears ... (Hellenic Shipping News Worldwide)

The return of China's best-known entrepreneur may help to quell the concerns of its private sector after a bruising two-year regulatory crackdown. Ma's re- ...

However, companies are hesitant, privately pointing to a lack of new supportive policies and the new regulatory framework ushered in by the crackdown. Ma’s stay abroad came to symbolise a reversal of fortunes for China’s private sector after his empire and the technology industry were the targets of Beijing’s regulatory crackdown. The return of China’s best-known entrepreneur may help to quell the concerns of its private sector after a bruising two-year regulatory crackdown.

Jack Ma makes rare public appearance in China (CNN)

Alibaba founder Jack Ma, seen visiting Hangzhou Yungu School in Hangzhou, Zhejiang province. Hangzhou Yungu School/Reuters. Hong Kong/Beijing ...

Ma relinquished control of the company in January as part of a shakeup of its shareholding structure. Ten days later, the investment bank and private equity firm said he was cooperating in an investigation by Chinese authorities. Confidence took a knock last month when Bao Fan, the CEO and chairman of Beijing-based China Renaissance, disappeared without explanation. In recent months, Beijing has signaled that its onslaught on the internet industry may be coming to an end. He paid a visit to Hangzhou Yungu School today and had a chat with teachers there on education,” a spokesperson said. That intervention by regulators followed a speech from Ma in which he criticized China’s banks and financial regulators.

Jack Ma is Beijing's prodigal entrepreneur (Reuters)

In the biblical parable of the prodigal son, a repentant wastrel returns home to a forgiving and beneficent father. In China, Alibaba founder Jack Ma's ...

The school, Yungu Education, posted photographs as well as a video of Ma at the school. The recent detention of prolific tech dealmaker Bao Fao suggests the government is still in crackdown mode. Chinese venture capital investments in the first 11 months of 2022 plunged 42% year-on-year, to $73.5 billion, according to data from Preqin. However, if officials believe the mere sight of Ma in public will revive business confidence, that hope has a whiff of desperation. All in all it suggests Beijing is intensifying a [charm offensive](/world/china/urgent-chinas-xi-nominates-li-qiang-become-premier-xinhua-2023-03-11/) to reassure entrepreneurs rattled by Ma’s defenestration and sector-wide crackdowns that the government still values them. [reported](/world/china/alibaba-founder-jack-ma-returns-china-school-visit-scmp-citing-sources-2023-03-27/) on Monday.