Software

Alibaba founder Jack Ma appears in public for the first time in a long time

Alibaba and Ant Group founder Jack Ma held several meetings with business partners in Hong Kong. After criticizing the financial policies of Chinese regulators, he fell out of favor with the authorities, as a result of which the initial public offering (IPO) of Ant Group was postponed indefinitely.

saltwire.com

saltwire.com

After that, Jack Ma rarely appeared in public in mainland China. In October, rumors began circulating on the Web about his location in Hong Kong. And the current meetings, according to Reuters, citing informed sources, were held during his first business trip.

For about three months since the end of October last year, nothing has been heard about Jack Ma, and this has raised fears for his life. However, in January, a former English teacher held a virtual meeting with a group of teachers, which had a positive impact on Alibaba’s stock price.

Last year, Chinese regulators stepped up pressure on tech companies to limit their influence. Alibaba and its competitors have faced a wide range of reprisals on issues ranging from antitrust compliance to consumer abuse. In April, the e-commerce giant was fined a record $ 2.75 billion for violating its monopoly. Although the authorities called it a “friendly act” that will help the development of commercial Internet platforms in the country, it hurt Alibaba’s financial performance.

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Robbie Elmers

Robbie Elmers is a staff writer for Tech News Space, covering software, applications and services.

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