Alibaba founder Jack Ma has returned to China, ending a more than year-long stay overseas that was viewed by industry as reflecting the sober mood of China's private businesses and troubled policymakers trying to spur the economy
School in Hangzhou he founded says he visited on MondayMa's absence underscored private sector's sober moodfounder Jack Ma has returned to China, ending a stay overseas of more than a year that industry viewed as reflecting the sober mood of its private businesses, and which sources said eventually spurred the new premier to reach out.
Online talk of Ma's return began emerging on Chinese social media early on Monday, before being confirmed by a school he had visited and the newspaper, the South China Morning Post, which is owned by Alibaba. China's new premier, Li Qiang, a close ally of President Xi Jinping, had recognised Ma's return to the mainland could help boost business confidence among entrepreneurs and since late last year had begun asking Ma to return, five sources with knowledge of the matter told Reuters.
In late 2021 he left mainland China and has been seen in photographs in Japan, Spain, Australia and Thailand. Zhang added, "The previous restrictive policies on the platform and internet sector are also expected to be adjusted."Li has been at the forefront of government's effort to bolster the private sector, saying this month that China's environment for entrepreneurial businesses would improve and that Beijing will treat all firms equally.
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