1.21.2021

China's richest man Jack Ma makes his first appearance since October after government cracked down on his business

China's richest man Jack Ma makes his first appearance since October after government cracked down on his business

The Founder of Alibaba Group, Jack Ma has made his first appearance since the Chinese Government started cracking down on his business empire.

After Suspicions about the whereabouts ofJack Ma, were raised earlier this month, when he missed the recording of Africa's Business Heroes, a television show on which he was a judge.

Last month, China's central bank arrested executives from Ant Group, owned by JackMa and ordered a major shake-up of the company's operations.

Before ordering the shakeup of the company, regulators had already stopped Ant Group's listing on the Hong Kong and Shanghai exchanges.

The listing was supposed to bring in over $37billion to the company.

The shake up from the government came after Ma criticized the Chinese government over how it operated it's banking system at a public event in Shanghai in October.

China's State Administration for Market Regulation announced an investigation into Alibaba over monopolistic practices.

According to the Local Chinese Media, Jack ma was seen in a video on Janaury 20 as he met 100 rural teachers in China as He was seen addressing the teachers as part of one of his charity foundation's initiatives.

The annual event is usually hosted in the resort city of Sanya, but was held online this year because of Covid-19 restrictions.

Alibaba shares surged 5% on Hong Kong's stock exchange following the news.

"We cannot meet in Sanya due to the epidemic," he said in the speech.

"When the epidemic is over, we must find time to make up for everyone's trip to Sanya, and then we will meet again!"

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