Alibaba founder Jack Ma has returned to China, bringing an end to his more than a-year-long absence from the public eye. Industry saw his disappearance as a reflection of the sober mood of China’s private businesses.
Bloomberg reported on Monday, citing unnamed sources, that Ma had chosen to remain abroad despite China’s efforts to restore investor confidence. However, within hours, news broke that Ma had visited an Alibaba-funded K-12 school in Hangzhou, according to an article published by the school, Yungu.
The Bloomberg article was later updated to reflect Ma’s appearance in Hangzhou, the founder, and Alibaba’s hometown, where he discussed how ChatGPT posed a challenge to education during a school visit.
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Jack Ma is undoubtedly one of China’s best-known entrepreneurs, he left mainland China in late 2021, and during his period of disappearance, he had been seen in photographs in Japan, Thailand, and Australia in the months since.
The renewed focus on Ma’s location comes at a time when China is attempting to show support for the private sector following a years-long crackdown on the tech industry, including the cancellation of Ant Group, Alibaba’s fintech affiliate. Some of the founders were prompted by the movement to relocate abroad and seek international expansion.
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Ma’s news comes at a time when Chinese technology firms are facing unprecedented pressure in the West. Last Thursday, US lawmakers grilled TikTok CEO Shou Zi Chew in a five-hour congressional hearing, firing harsh questions that highlighted the irreconcilable differences between the two superpowers. According to one Chinese founder, the hearing sent shivers up their spine.
TikTok isn’t the only app experiencing difficulties in the United States. A group of “businesses and individuals” have formed the “Shut Down Shein” campaign to call Shein’s business practices into question. Shein is a Singapore-based fast fashion behemoth that has risen to global dominance thanks to data-driven supply chains in China. Shein denied reports that it faced closure in the United States.
