Alibaba co-founder Jack Ma returns to China as govt tries to quell private sector fears
Beijing (China), March 27: Chinese magnate Jack Ma has returned to mainland China after spending roughly a year overseas, Wall Street Journal reported.
The travels of Jack Ma have received a lot of attention as China tries to regain the trust of entrepreneurs following years of regulatory restrictions and Covid-19 pandemic measures that have badly harmed the country's private enterprises. Some in the business world interpreted the tech titan's prolonged absence as indication that China's tech industry was still in flux.
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According to Wall Street Journal sources, Ma recently returned to China after spending the majority of the previous year in Japan. He recently returned from Singapore and Australia, and he spent the Lunar New Year in Hong Kong.
China's new premier spent a substantial amount of time earlier this month at his first news conference assuring entrepreneurs that Beijing supports the private sector and that its "commitment in this area is unequivocal and constant."
The South China Morning Post, which is owned by Alibaba, was the first to publish Ma's return to China, according to the Wall Street Journal.
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