Founder of Alibaba Jack Ma has returned to China, according to the South China Morning Post (SCMP), capping a more than a year-long overseas trip that was seen by the industry as reflecting the sober mood of China’s private businesses.
Ma, one of China’s most well-known entrepreneurs, left the country in late 2021 and has been photographed in Japan, Australia, and Thailand in the months since.
He was once one of the country’s most outspoken businessmen, but he stepped back from the public eye in late 2020 after criticizing China’s regulatory system, which was later blamed for triggering a wide-ranging regulatory crackdown by Beijing.
While Chinese authorities said in recent months that the crackdown had ended and that they would look for ways to support the private sector, Chinese entrepreneurs said Ma’s decision to remain abroad was a factor undermining confidence.
Following the publication of the SCMP report, Alibaba shares in Hong Kong increased by more than 4%.
The SCMP report did not say when Ma returned to China, but it did say that he visited a school he founded in Hangzhou, the home of Alibaba and financial technology firm Ant Group, citing sources.
It went on to say that he had returned to China after a brief stop in Hong Kong.The requests for comment from Alibaba were not immediately answered. On Monday, the school, Yungu Education, announced on WeChat that Ma had visited its grounds and shared images and a video of the founder of Alibaba at the school.
Jack Ma also recently gave up control of Ant Group, a major player in Chinese fintech, as part of a reform that aims to put an end to a broader regulatory crackdown.
