Alibaba shares jump on Jack Ma’s first appearance in 3 months – TechCrunch

Alibabas billionaire creator resurfaced as he spoke to 100 rural teachers through a video call, three months after his last public look in October, sending out the e-commerce firms shares up more than 8% in Hong Kong.
A recording of the call was first posted on a news portal backed by the government of Zhejiang, the eastern province where Alibaba is headquartered, and the video was validated by an Alibaba representative.
Speculations swirled around Mas location after media reported in December that he skipped the taping of a TV program he created. Ma, understood for his love for the limelight, has actually seen his e-commerce empire Alibaba and fintech huge Ant Group significantly in the crosshairs of the Chinese authorities in recent months.
Ma last appeared publicly at a conference where he castigated Chinas monetary regulatory system in front of a space of high-ranked officials. His questionable remark, according to reports, prompted the Chinese regulator to quickly halt Ants initial public offering, which would have been the greatest public share sale of perpetuity.
Ant has since been dealing with business restructuring and regulative compliance under the directions of the government. Alibaba, Chinas biggest e-commerce platform, also came under examination as market regulators opened an investigation into its supposed monopolistic practices.
Some argue that the current clampdown on Jack Mas web empire signals Beijings growing worry with the countrys private-sector and super-rich power brokers.
” Today, Alibaba and its archrival, Tencent, control more individual information and are more totally associated with daily life in China than Google, Facebook and other American tech titans remain in the United States. And similar to their American equivalents, the Chinese giants in some cases bully smaller competitors and eliminate innovation,” composed Li Yuan for the New York Times.
” You do not need to belong to the Communist Party to see reasons to rein them in.”
In the 50-second clip, Ma is seen talking straight into the video camera versus what appears to be decorative paintings illustrating a water town typical of Zhejiang. An art history book is shown in the middle of a stack of books, along with a vase of fresh flowers and a ceramic figurine of a stout, reclining guy who looks relaxed and material.
Ma attended to the 100 teachers getting the Jack Ma Rural Teachers Award, which was established by the Jack Ma Foundation to determine exceptional rural instructors every year. Its unclear where Ma was speaking from, however the video briefly shows him visiting a rural boarding school in Zhejiang on January 10. The award event was moved online this year due to the pandemic, Ma informed the award recipients.
When Ma announced his retirement strategy, he vowed to return to his teaching roots and commit more time to education philanthropy, though the founder still holds substantial sway over Alibaba by keeping a seat in the effective Alibaba Partnership. The legendary billionaire began his profession as an English instructor in Hangzhou, and on Weibo, Chinas Twitter equivalent, he labels himself the “ambassador for rural teachers.”

Ma resolved the 100 teachers getting the Jack Ma Rural Teachers Award, which was set up by the Jack Ma Foundation to determine outstanding rural teachers every year. Its unclear where Ma was speaking from, however the video briefly shows him going to a rural boarding school in Zhejiang on January 10. The award event was moved online this year due to the pandemic, Ma told the award recipients.

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