SCMP: Alibaba founder Jack Ma returns to China, ending year-long sojourn abroad

BEIJING, March 27 — Alibaba founder Jack Ma has returned to China, the reported today, ending a more than year-long sojourn overseas that was viewed by industry as reflecting the sober mood of China’s private businesses.

Ma, one of China’s best known entrepreneurs, left mainland China in late 2021 and has been seen in photographs in Japan, Australia and Thailand in the months since. Once one of the country’s most outspoken businessmen, he retreated from the public limelight in late 2020 after criticising China’s regulatory system that was later blamed for triggering a wide-ranging regulatory crackdown by Beijing.

While Chinese authorities said in recent months they had ended the crackdown and would look for ways to support the private sector, Chinese entrepreneurs said they saw Ma’s decision to stay overseas as a factor hindering confidence.The SCMP report did not state when Ma had returned to China but said, citing sources, that he visited a school he founded in the city of Hangzhou, the home of Alibaba and financial technology firm Ant Group.Alibaba did not immediately respond to requests for comment.

Ma also recently relinquished control over Ant Group, a Chinese fintech giant, in an overhaul that seeks to draw a line under a wider regulatory crackdown. — Reuters

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