Jack Ma Sighted In Hong Kong After Almost A Year

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Jack Ma, the founder of electronic e-retail giant Alibaba Inc. (BABA), was seen for the first time in Hong Kong in almost a year on Tuesday, Reuters reported.

The billionaire went completely missing from the public eye after his scathing criticism of the Chinese financial regulators in October 2020. Alibaba was under investigation for monopolizing the industry.

Ma's company was soon to float a digital payment company named Ant Group which was ready to get listed in the Chinese exchange. In his address to the audience, Ma criticized the Chinese authorities for operating with a "pawn shop mentality." He went so far as to compare the governance of the country with operating an airport with the skills of handling a railway station. Unsurprisingly, this did not sit well with authorities. The government cracked down on the company and Ant Group's hopes of getting a blockbuster $37 billion public offering to go public was shelved.

The company was fined a humongous $2.75 billion by the Chinese financial authority on April 10 for employing monopolistic practices. He did appear in multiple conventions in mainland China but never in Hong Kong.

In January, almost after three months after his complete disappearance, he appeared in a video interview with some teachers. Ma also visited Alibaba's HQ at Hangzhou in May on Ali Day. The outspoken billionaire was also spotted in eastern Zhejiang province, the HQ of Ant Group. On Wednesday, he met some of his business partners, according to reports.

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