Billionaire Alibaba Founder Jack Ma Looks at Hong Kong: Sources


Alibaba Group founder Jack Ma, who has been out of public view since the start of regulatory clampdown on his business empire late last year, is currently based in Hong Kong and has recently met with business associates, two sources told lbl.

The Chinese billionaire has kept a low profile since he criticized Chinese financial regulators in Shanghai in October last year. That triggered a chain of events, resulting in his ant group’s mega IPO being retained.

Later, when Ma made a limited number of public appearances on the mainland of China, a source said that the visit marked her first trip to the Asian financial center since last October, as rumors swirled.

Alibaba did not immediately respond to requests for comment other than its regular working hours. Ma’s reactions usually come through the company.

Refusing to identify sources due to privacy restrictions.

Ma, once China’s most famous and honest businessman, met at least “some” business associates at lunch last week, people said.

Alibaba is one of several big e-tailers who are struggling with regulators over their practices.
VCG by Getty Images

Ma, mostly located in the East China city of Hangzhou, the headquarters of his trading empire, owns at least one luxury home in the former British colony that has some of his company’s offshore trading operations.

Alibaba is listed in Hong Kong with New York.

Former English teachers disappeared from public view for three months before they emerged in January, talking to a group of teachers via video. That reduced concerns about his extraordinary absence and increased Alibaba’s stakes.

In May, the company’s annual “Ali Day” staff and family event paid a rare visit to the Maan Alibaba’s Hang Outou campus, company sources said.

On September 1, photographs of several farm greenhouses in eastern Zhejiang province, home to Mali Alibaba and its fintech organ ants, went viral on Chinese social media.

The next day, Alibaba announced it would invest $ 15.5 billion by 2025 to support a “general prosperity”, becoming the latest corporate giant to support President Xi Jinping’s wealth-sharing initiative.

Alibaba and its tech rivals have been subject to widespread regulatory repression, from monopoly behavior to consumer rights. The e-commerce behemoth was fined a record $ 2.75 billion in April for monopoly infringement.

Earlier this year, regulators imposed widespread restructuring on ants, including a $ 37 billion initial public offering in Hong Kong and Shanghai’s Nasdaq-style star market, the world’s largest.

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