Jack Ma Returns to China, Calms Private Sector Fears

Alibaba founder Jack Ma has returned to China after spending more than a year overseas. He resurfaced at a school he founded in Hangzhou—also home to his e-commerce titan. Ma's travels abroad, which included Japan and Australia, were viewed as a reflection of the sober mood of China's private businesses. One of the country’s most outspoken businessmen retreated from the limelight after criticizing China’s financial regulators in 2020. Some regarded his comments as the catalyst which triggered a wide-ranging regulatory crackdown by Beijing on tech entrepreneurs. Chinese authorities said in recent months they had ended this crackdown and would instead support the sector.