Alibaba’s Jack Ma makes first public appearance since October
Jack Ma made his first public appearance in recent months yesterday as his tech empire continues to face scrutiny from Chinese regulators.
Billionaire and co-founder Alibaba featured in video posted by Chinese state media. On video Jack Ma talks to teachers from rural China for a charity event.
The video was posted on the Internet by the company Tianmu News, a subsidiary of the official newspaper of the Zhejiang Provincial Government. The province includes Hangzhou, the city where Alibaba is headquartered.
Ma has not appeared in public or posted on social media since late October. A week before this financial partner Alibaba Ant Group was to be listed on the Shanghai and Hong Kong stock exchanges. IPO at the last moment was blocked Chinese regulators, and since then, Ma’s projects have been the target of an escalation of Beijing’s crackdown on technology.
Alibaba Shares Up More Than 9% On Wednesday Following Video Post. This growth was the largest for the company since July last year. He helped offset some of the losses that have accumulated since Ant Group’s IPO. The rally has also led to a broader rally in Chinese tech stocks that are traded in Hong Kong..
The billionaire’s foundation revealed that Ma was involved in online awards ceremony teachers on Wednesday called «Village Teachers Initiative», the creator of which he is.
Ma, a former English teacher, has made education a priority for his foundation, to which he has devoted more time since he left from Alibaba in 2019.
Traditional ceremony canceled due to Covid-19.
«We’ll meet again when the epidemic is over», – said Ma.
Ma’s whereabouts have been the subject of intense discussion in recent weeks.. As Ant Group prepared for the world’s largest initial public offering last fall, Ma accused the authorities of holding back the innovation segment and rebuked the country’s banks for having a mentality. «pawnshop». Thereafter within a few days the regulators summoned Ant leaders and Ma himself to meetings, and then postponed the IPO altogether.
Alibaba is China’s most famous technology company. Today she faces many problems that can radically change her. Chinese authorities are investigating the company’s activities on antitrust grounds, as well as pushing its successful financial partner Ant Group to business restructuring.