Alibaba founder Jack Ma has returned to China, ending a more than year-long stay overseas that was viewed by industry as reflecting the sober mood of China's private businesses and troubled policymakers trying to spur the economy.
Jack Ma, billionaire founder of Alibaba Group, arrives at the "Tech for Good" Summit in Paris, France May 15, 2019. REUTERS/Charles PlatiauSchool in Hangzhou he founded says he visited on MondayMa's absence underscored sober private sector's sober moodfounder Jack Ma has returned to China, ending a more than year-long stay overseas that was viewed by industry as reflecting the sober mood of China's private businesses and troubled policymakers trying to spur the economy.
Ma, a former English teacher, discussed topics such as artificial intelligence-powered chatbot ChatGPT and also said he hoped to return to teaching one day during his visit, the Yungu School said on its official WeChat account. The school was founded by Ma and other Alibaba founders in the e-commerce giant's home city of Hangzhou in 2017.
"Because that means the new top leadership has indeed been re-examining the position and the importance of the platform companies in China's economic development. The previous restrictive policies on the platform, internet sector are also expected to be adjusted," Zhang said. While Chinese authorities have recently said they are easing the crackdown and would support the private sector, Chinese entrepreneurs and investors said they saw Ma's decision to stay overseas as a factor hindering confidence.
Li, a close ally of President Xi Jinping, has been at the forefront of government's effort to bolster the private sector, saying earlier this month that the country's environment for entrepreneurial businesses will improve and that Beijing will treat all firms equally.
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