Alibaba Group founder Jack Ma, who has been out of public since a regulatory clampdown on his business empire began late last year, is currently in Hong Kong and has met with business associates in recent days, two sources told Reuters. told.
The Chinese billionaire has been keeping a low profile since delivering a speech in Shanghai last October Criticism of China’s financial regulators. This triggered a chain of events that resulted in the shelving of their Ant Group’s mega IPO.
whereas M.A He was followed by a limited number of public appearances in mainland China as speculation about his whereabouts intensified, one of the sources said, adding that the visit marked his first visit to the Asian financial center since last October.
Alibaba did not immediately respond to requests for comment outside of its regular business hours. Ma’s comments usually come through the company.
declined to identify the sources due to lack of confidentiality.
Ma, once China’s most famous and outspoken entrepreneur, met at least “some” business associates over food last week, the people said.
Ma, who is mostly based in the eastern Chinese city of Hangzhou where his business empire is headquartered, also owns at least one luxury home in the former British colony, with some of his companies also operating offshore business.
Apart from New York, Alibaba is also listed in Hong Kong.
Former English teacher was missing from the public eye three months ago Surfacing in January, talking to a group of teachers by video. This eased concern about his unusual absence from the spotlight and sent Alibaba Shares jump.
Company sources said that in May, Ma made a rare visit to Alibaba’s Hangzhou campus during the firm’s annual “Ali Day” staff and family event.
On September 1, photographs of Ma visiting several agricultural greenhouses in eastern Zhejiang province, home of both Alibaba and its fintech partner Ant, went viral on Chinese social media.
The next day, Alibaba said it would invest CNY 100 billion (about Rs 1,16,925 crore) by 2025 in support of “general prosperity”, becoming the latest corporate giant to lend support to a wealth-sharing initiative run by the president . Xi Jinping.
Alibaba and its tech rivals have been the target of widespread regulatory action on issues ranging from monopolistic behavior to consumer rights. was an e-commerce giant a record fine $2.75 billion (about Rs 20,720 crore) in April for monopoly infringement.
Earlier this year, regulators also implemented a comprehensive restructuring ant, whose $37 billion (about Rs 2,78,770 crore) initial public offering at the Nasdaq-style Star Markets in Hong Kong and Shanghai would have been the world’s largest.
© Thomson Reuters 2021