Jack Ma’s, Chinese business magnate, reappearance to the limelight has caused the Hong Kong shares of Alibaba, a company who he is founder of to improve by as much as 10 per cent, Nikkei Asia reports.
Speculations have trailed Ma’s disappearance from limelight for three months when in his last public show he openly criticised the Chinese government’s approach to the regulatory framework.
Ma was spotted in a 50-second video clip published on the Zhejiang Newspaper Media Holding Group website, wearing a casual dark blue sweatshirt while he addressed a meeting of village teachers.
Ma said he has taken time to study and think and would become more dedicated to education and public welfare.
“My colleagues and I have been studying and thinking, and we have become more determined to devote ourselves to education and public welfare,” he said.
Alibaba lost nearly one-third of its market value in the weeks after Ma speech in October where he likened traditional banks to pawnshops and labelled the existing financial regulatory framework an “old people’s club.”
It is unclear where the video was filmed and the billionaire did not hint at that either.
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