Alibaba co-founder Jack Ma has returned to China after a year abroad. It has been reported The Wall Street Gazette.
The entrepreneur left the country after being discredited by criticism from Chinese officials. Ma disappeared from the public domain in 2020.
The businessman reportedly spent most of last year in Japan and celebrated the Chinese New Year in Hong Kong. He has also recently traveled to Singapore and Australia.
In China, Ma visited the Alibaba-funded Yungu School, where he discussed the challenges posed by the power of artificial intelligence in education. The newspaper wrote about it Finance Times.
Ma’s return was associated with Beijing’s efforts to restore commercial confidence. Recently, the new Chinese Premier Li Qiang said that “the government’s commitment in this direction (supporting the private sector. – Gazeta.ru) is firm and unwavering.” Shares of Alibaba, traded in Hong Kong, rose more than 4% after Jack Ma’s return.
Jack Ma stepped down as general manager of Alibaba in 2019 and said he wanted to dedicate his time to philanthropy and rural education.
CPC in advance announced Deep restructuring of China’s financial system and the growth of party presence in private companies.