Alibaba founder Jack Ma returns to China after year of uncertainty

Jack Ma’s whereabouts are back in the headlines about a year after the billionaire founder of Alibaba disappeared.

Bloomberg reported on Monday that Ma chose to stay abroad despite China’s efforts to restore confidence in entrepreneurs, citing unnamed sources. Within hours, however, news surfaced that Ma had in fact visited an Alibaba-funded K-12 school in Hangzhou, according to a report by the school, Yungu.

The Bloomberg article had since been updated to reflect Ma’s appearance in Hangzhou, the home of the founder and Alibaba, where he explained how ChatGPT posed an educational challenge during the visit. school.

The renewed focus on Ma’s whereabouts comes at a time when China is trying to voice support for the private sector following a years-long crackdown on the tech industry, including suspending plans for IPO of Ant Group, the fintech subsidiary of Alibaba. Movement prompted some founders to moving abroad and looking to expand abroad.

Ma’s news also comes as Chinese tech companies face unprecedented pressure in the West. Last Thursday, U.S. lawmakers questioned TikTok CEO Shou Zi Chew in a five-hour congressional hearing, throwing out tough questions that highlighted the irreconcilable differences between the two superpowers. The audience, as one Chinese founder told TechCrunch, sent shivers down their spines.

TikTok isn’t alone in facing roadblocks in the US A group of ‘businesses and individuals’ have formed a ‘Shut Down Shein’ campaign to challenge the business practices of Shein, the tech giant Singapore-based fast fashion that has become global dominance thanks to its data-driven supply chains in China. Shein refuted a report that he was at risk of being shut down in the United States