Jack Ma, the founder of the Chinese trading giant Alibaba, criticized the country’s financial system in a speech on October 24, 2020 in Shanghai and then disappeared.
Jack Ma, the second richest person in China, showed up earlier this year but soon fell silent again. The news, which the Hong Kong media relied on a source close to Ma, alleged that Ma was in Spain on an agricultural and environmental technology study tour.
The unnamed source also stated that Ma was in Hong Kong to have “private time” with his family before flying to Europe.
AN INVESTIGATION HAS BEGUN
Jack Ma stated in his speech last October that the financial system in China was behind the times and argued that it stifled innovation. After Ma’s speech, regulators in China scrutinized Ma’s company and launched an investigation into Alibaba over allegations of monopoly.
After months of silence, Ma showed up last January and was reported to have had a video conference with 100 village teachers as part of the charity’s projects.
On the flip side, Alibaba’s shares, which traded on the Hong Kong Stock Exchange, rose 5 percent after news of Ma’s appearance spread across the Chinese media.