Monday, April 3, 2023

Business gains from Jack Ma's return to China

Boost for biz: Jack Ma returns to China


HONG KONG/BEIJING: Alibaba founder 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. The return of China's best-known entrepreneur may help to quell the concerns of its private sector after a bruising two-year regulatory crackdown.

Ma's re-emergence in public offers support for the government's softening tone toward the private sector as leaders try to shore up an economy battered by three years of Covid-19 curbs. Online talk of Ma's return started 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. During his visit, Ma, a former English teacher, discussed topics such as artificial intelligence-powered chatbot ChatGPT and said he hoped to return to teaching one day, the Yungu School said on its WeChat account.

Ma returned to China last week, two sources with knowledge of the matter said. Reuters was not able to establish how long he plans to stay in China. China's new premier, Li Qiang, a close ally of President Xi Jinping, had rec

Catch Daily Highlights In Your Email

* indicates required

Post Top Ad