Alibaba founder Jack Ma returns to China, ending year-long sojourn overseas -SCMP By Reuters

© Reuters. FILE PHOTO: Jack Ma, billionaire founding father of Alibaba Group, arrives on the “Tech for Good” Summit in Paris, France Might 15, 2019. REUTERS/Charles Platiau

BEIJING (Reuters) -Alibaba founder Jack Ma has returned to China, the South China Morning Publish (SCMP) reported on Monday, ending a greater than year-long sojourn abroad that was seen by trade as reflecting the sober temper of China’s personal companies.

Ma, one in every of China’s greatest identified entrepreneurs, left mainland China in late 2021 and has been seen in pictures in Japan, Australia and Thailand within the months since.

As soon as one of many nation’s most outspoken businessmen, he retreated from the general public limelight in late 2020 after criticising China’s regulatory system that was later blamed for triggering a wide-ranging regulatory crackdown by Beijing.

Whereas Chinese language authorities stated in latest months they’d ended the crackdown and would search for methods to help the personal sector, Chinese language entrepreneurs stated they noticed Ma’s resolution to remain abroad as an element hindering confidence.

Alibaba (NYSE:) shares in Hong Kong rose greater than 4% after the SCMP report was printed.

The SCMP report didn’t state when Ma had returned to China however stated, citing sources, that he visited a college he based within the metropolis of Hangzhou, the house of Alibaba and monetary know-how agency Ant Group.

It added that he returned to China after a quick cease in Hong Kong.

Alibaba didn’t instantly reply to requests for remark. The varsity, Yungu Training, on Monday stated on its WeChat account that Ma had visited its premises and posted pictures in addition to a video of the Alibaba founder on the faculty.

Ma additionally not too long ago relinquished management over Ant Group, a Chinese language fintech large, in an overhaul that seeks to attract a line below a wider regulatory crackdown.

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