The founder of the Alibaba sales platform unexpectedly appeared in China. The billionaire suddenly showed up at a school in Hangzhou on Monday after spending more than a year overseas. According to Reuters news agency, Ma’s return would help restore confidence among private sector entrepreneurs.
Exactly why Ma left was never made clear. However, her flight from China has become a symbol of the uncertainty that prevails among entrepreneurs. For example, Beijing has introduced tough regulations against the free sector, and especially against the technology sector. Previously, Ma had already criticized the totalitarian regime’s approach to the tech sector. The Chinese government then threatened Ma with heavy fines.
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In late 2021, it emerged that Ma had fled China. He has appeared in Japan, Spain, Australia and Thailand. Why she is now returning to China is not clear. Several Reuters sources say Chinese Premier Li Qiang has made some attempts to bring the tech billionaire back to China. It is not clear whether this is also the real reason for his return.
Short-lived stock market jump
However, Ma’s return is seen as something positive. “It strengthens the sentiment of the broader platform and the Internet industry,” said Zhang Zihua, head of investment at Beijing Yunyi Asset Management. “This means that the government has effectively reconsidered the position and importance of platform companies for Chinese economic developments.”
Ma’s return also meant good news for Alibaba’s share of the Chinese stock exchange. Due to the news, the share increased by 4%, although the price jump disappeared shortly after.
Source: BNR
Sharon Rock is an author and journalist who writes for 24 News Globe. She has a passion for learning about different cultures and understanding the complexities of the world. With a talent for explaining complex global issues in an accessible and engaging way, Sharon has become a respected voice in the field of world news journalism.
