Jack Ma reappears in public after three months and Alibaba celebrates on the stock exchange
Source: HW Upgrade added 20th Jan 2021
In the past few weeks we had questioned on the absence of Jack Ma, founder of Alibaba, from the public scene after the accusations against the economic and financial system of Beijing. The entrepreneur in the past few hours has reappeared on video, and appears healthy.
by Manolo De Agostini published 20 January 2021 , at 15: 21 in the web channel
After months away from radar, Alibaba founder Jack Ma reappeared on the media scene with a video released by the Chinese state media Tianmu News. Absent from the stages since the end of October, Ma had harshly criticized the regulatory system of Chinese finance, asking for a strong renewal, and for this reason his disappearance from the spotlight had given rise to speculation on the his fate . Fortunately, he appears to be in good health, so much so that the Alibaba stock on the Hong Kong stock exchange immediately jumped several percentage points.
In a video of 50 seconds shown at an online philanthropic event, the entrepreneur addressed teachers in rural China (he is a former English teacher). “The fundamental message that Jack Ma wants to convey with this public appearance is ‘I didn’t run away, I’m staying in China’ and that Alibaba is still operating normally and the government has not targeted the company,” said Li Chengdong, chief executive of the company. Dolphin Think Tank consulting firm, South China Morning Post. “This is also a message to the capital market, in which we want to highlight how the Chinese government does not target private companies”.
Whether or not this is the meaning of reappearance of the entrepreneur, despite having retired from his official roles in Alibaba in 2019, on 56 is still regarded as a key figure in his empire and the star of China’s private business community. After the remarks against the Chinese financial system, Ma was summoned by regulators and the IPO of Ant Group, Alibaba’s financial subsidiary, was blocked (according to rumors from President Xi himself). On 24 last December, China also launched an antitrust investigation against Alibaba for “alleged monopoly behavior”.