What does Jack Ma’s return to the public spotlight mean?

Date:

João da Silva

Business reporter

CCTV Picture of Chinese President Xi Jinping shaking the hand of Alibaba founder Jack Ma.CCTV

A meeting between Chinese president Xi Jinping and some of the country’s foremost business leaders this week has fuelled excitement and speculation, after Alibaba founder Jack Ma was pictured at the event.

The charismatic and colourful Mr Ma, who was one of China’s most prominent businessmen, had withdrawn from public life after criticising China’s financial sector in 2020.

His reappearance at Monday’s event has sparked a wave of discussion, with experts and analysts wondering what it means for him, China’s tech sector and the economy in general.

The response has been overwhelmingly positive – tech stocks, including those of Alibaba, rallied soon after the event.

On Thursday, the e-commerce giant reported financial results that beat expectations, with shares ending the trading day in New York more than 8% higher. The company’s shares are up 60% since the beginning of the year.

So what are analysts…

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