Alibaba founder Jack Ma appears in Hong Kong

18:50, 13 October 2021
Alibaba founder Jack Ma appears in Hong Kong Photo:

The billionaire founder of the world’s largest companies Jack Ma has spent the last few days in Hong Kong with his business partners. 

Ma has generally disappeared from public view ever since he dared to openly criticize Chinese financial regulators.

This led to a major stand-off between the Chinese Communist Party and Jack Ma’s companies.

First, the IPO of Ma’s ambitious Ant Group was barred by the government and then as a result of China’s policies against Alibaba the price for its shares dropped by almost 50% since last year.

Ma did appear on some occasions in mainland China since the beginning of his problems with the Chinese government, however this is his first publicly known appearance in Hong Kong.

The company’s shares are listed not only in Hong Kong but also in New York which makes many investors sell their Ali Baba shares as fears of Chinese companies’ delisting from American stock exchanges.

Alibaba became a part of Xi Jinping’s “common wealth” policy of sharing wealth as Alibaba pledged to invest $15.5 billion by 2025.