Jack Ma, the founder of hailed Chinese e-commerce giant Alibaba, has made a return to public visibility after many months of traveling and staying out of the public eye. Ma, who was once China’s wealthiest man, had remained elusive and withdrawn from public appearances since November 2020, when at a speech in Shanghai, he openly criticized Chinese regulators, stirring up massive controversy. Shortly afterwards, Beijing halted the initial public offering of Alibaba’s finance branch, Ant Group.
Alibaba provides multiple online services, from online payments to app stores, as well as running the world’s biggest shopping website, making it the key driver of e-commerce growth in China and around the world. On Monday, Ma was seen visiting the Yungu School in Hangzhou, eastern China, a school which he and other partners of the Alibaba business had established. He took the opportunity to discuss topics such as artificial intelligence, and spoke of his personal passion for learning.
The Chinese government has taken thoughtful steps to rebuild investor confidence amid private sector crackdowns and COVID-19 related restrictions hitting the economy. Early this month, Chinese premier Li Qiang released a statement promising the government would be providing unwavering support to the private sector, clearing out any doubts.
Ma sportingly stepped down from his post as chairman of Alibaba in September 2019, indicating his plans to partake in philanthropic activities. A month later, China’s central bank strongly alluded to the fact that the tech industry had been subject to enough regulatory interventions and China’s President Jinping openly declared the country’s support for private investors.
Alibaba, being one of China’s most successful businesses and a revolutionary in the field of e-commerce, is cited as a cornerstone of the nation’s economy. Along with its impact as a global tech company, it has provided crucial services to its home country, China, and served as a beacon of optimism for the nation’s entrepreneurs and capitalists.
