Founder of Alibaba, Jack Ma finally appears to the public after a long time without news. Ma’s appearance is known to have been seen through videos on Chinese social media.
Quoting CNBC, Wednesday (20/1/2021) in the video, Ma is seen talking with rural teachers during his charity program, the Jack Ma Foundation. The event was organized to celebrate the achievements of rural teachers and will get cash support.
“Jack Ma participated in an online ceremony for the annual Rural Teaching Initiative event on January 20,” said Foundation spokesman Jack Ma.
Ma’s public appearance influenced his company. Hong Kong-listed Alibaba shares rose 5%.
Jack Ma’s alleged disappearance after criticizing China’s financial regulators in October 2020. Since that comment, he has not been seen, giving rise to speculation that he is missing.
After that, Chinese authorities continued to crack down on its technology companies, Alibaba and Ant Group. December 2020, China’s State Administration for Market Regulation opens an investigation into Alibaba for its monopolistic practices.
The Chinese regulator also asked Ant Group to improve its business and comply with regulatory requirements.
China continues to finalize details of anti-monopoly laws for the broader technology company. China is pushing for new rules on micro-lending, including provisions for capital requirements for technology companies offering loans.