Jack Ma Resurfaces in Hong Kong

Alibaba Group founder Jack Ma resurfaced in Hong Kong in recent days after keeping a low profile since criticizing financial regulations in Shanghai last year.

Ma’s companies faced Chinese scrutiny on issues ranging from antitrust to personal data collection, and in April, Alibaba was fined 18.2 billion yuan over monopoly violations.

Ma has remained mostly out of public view since October last year after regulators imposed a sweeping restructuring on Alibaba’s fintech affiliate, Ant, and pulled the plug on its initial offering.

The Ant Group said on Monday it raised the registered capital from 23.8 billion yuan to 35 billion yuan as part of the “relevant regulations and business needs.”

Speculations of Ma’s whereabouts circulated on social media after his video addressed to rural teachers was uploaded and after pictures of his visit to Alibaba’s Headquarters in Hangzhou in May were published. 

Alibaba’s executive vice-chairman Joe Tsai Chung-hsin reassured the public that Ma was well and was focused on hobbies and philanthropy. 

“He’s actually doing very, very well. He’s taken up painting as a hobby. It’s actually pretty good,” Tsai added.

Meanwhile, Reuters reported that Ma was in Hong Kong for business meetings.

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