Alibaba's Jack Ma alive!
Alibaba founder Jack Ma has emerged after weeks out of the spotlight, which sparked speculation about his location as his companies face increased regulatory examination. Alibaba's Hong Kong-listed stock was up over 8% on news of his reappearance. In a video posted on Chinese social networks, Ma addressed rural teachers as part of one his charity foundation's initiatives. The yearly event, which is usually hosted in the resort city of Sanya, sees the Jack Ma Foundation commemorate the accomplishments of rural instructors who are granted money support. " Jack Ma participated in the online event of the yearly Rural Teacher Initiative occasion on January 20," a representative for the Jack Ma Foundation said. In October, Ma made some remarks that appeared important of China's monetary regulator. It was among the reasons credited to Chinese regulators ending on what would have been a record-setting going public of Ant Group, the monetary technology giant Ma founded. Considering that those comments, Ma had actually not been seen, leading to speculation he had actually gone missing out on. A source told this month that he was just laying low. Chinese authorities have cracked down on Ma's technology firms Alibaba and Ant Group. In December, China's State Administration for Market Regulation opened an examination into Alibaba over monopolistic practices. Beijing is also settling details of a wide-sweeping anti-monopoly law. Regulators likewise asked Ant Group to correct its service and abide by regulatory requirements. China is pushing through new guidelines on so-called microlending, which included provisions such as capital requirements for innovation companies offering loans. Beijing is worried about the power of its tech companies that have managed to grow, largely unencumbered, over the past few years and have ended up being key parts of everyday life in China.