By South China Morning Post | Created at 2024-11-29 10:26:30 | Updated at 2024-11-29 12:59:39
2 hours ago
Jack Ma, founder of Alibaba Group Holding, on Friday visited the company’s campus in Hangzhou, capital of eastern Zhejiang province, in a show of support for the e-commerce empire he created a quarter of a century ago, according to employees.
Ma’s visit was his first known trip back to to his hometown since March 2023, when the billionaire visited a school that he established. While Ma resigned as Alibaba’s executive chairman in 2019 and has kept a low profile since 2020, he remains widely seen as the spiritual leader of the company and the face of Chinese entrepreneurship.
His low-key visit to Alibaba’s campus comes at a time when the Chinese government is trying to boost confidence in the country’s private sector, as the world’s second-largest economy grapples with a slew of challenges, ranging from a persistent property market downturn to renewed geopolitical headwinds after US president-elect Donald Trump threatened to levy additional tariffs on Chinese imports.
In a photo taken by an employee on site and shared with the South China Morning Post, a smiling and relaxed Ma, wearing a white cap, was seen waving to staff.
Alibaba, owner of the Post, did not immediately respond to a request for comment on Friday.
