Alibaba founder Jack Ma had returned to China, capping a trip abroad that lasted more than a year and was seen by the business community as reflecting the gloomy state of China's private enterprises, the South China Morning Post (SCMP) reported on Monday.
One of the most well-known businessmen in China, Ma, departed the mainland in late 2021 and has since been photographed in Thailand, Japan, and Australia.
Jack Ma, second from right, visited the school in Hangzhou on Monday | Photo: Handout
He was formerly one of the most outspoken businessmen in the nation, but in late 2020, after attacking China's regulatory system, which was eventually held responsible for sparking a broad regulatory crackdown by Beijing, he withdrew from the public spotlight.
Chinese entrepreneurs said they perceived Ma's decision to remain abroad as a factor undermining trust, despite recent claims by Chinese officials that they had finished the crackdown and would search for ways to boost the private sector, as per a Business Today report.
Alibaba shares surge on Ma's return
The SCMP report's release was followed by a more than 4% increase in Alibaba shares in Hong Kong.
According to sources cited in the SCMP report, Ma visited a school he created in Hangzhou, which is also the location of Alibaba and the financial technology company Ant Group. The report did not specify exact time when Ma had returned to China.
Detour in Hong Kong
He made a brief detour in Hong Kong, it was stated, before travelling back to China.
Requests for comment from Alibaba did not immediately receive a response. The school, Yungu Education, said on its WeChat account on Monday that Ma had visited its grounds and had shared pictures and a video of the founder of Alibaba at the school.
In a move to end a broader regulatory onslaught, Ma recently gave up leadership of Ant Group, a major player in Chinese fintech.
