What does Jack Ma's return to the spotlight in China mean?
5 hours ago João da Silva Business reporter
CCTV
A meeting between Chinese president Xi Jinping and some of the country's foremost business leaders this week has fuelled excitement and speculation, after Alibaba founder Jack Ma was pictured at the event. The charismatic and colourful Mr Ma, who was one of China's most prominent businessmen, had withdrawn from public life after criticising China's financial sector in 2020. His reappearance at Monday's event has sparked a wave of discussion, with experts and analysts wondering what it means for him, China's tech sector and the economy in general. The response has been overwhelmingly positive - tech stocks, including those of Alibaba, rallied soon after the event.
On Thursday, the e-commerce giant reported financial results that beat expectations, with shares ending the trading day in New York more than 8% higher. The company's shares are up 60% since the beginning of the year. So what are analysts reading into Mr Ma's appearance at the event alongside other high-profile guests - including DeepSeek founder Liang Wenfeng?
Is Jack Ma 'rehabilitated'?
Analysts began looking for clues about the significance of the meeting as soon as Chinese state media started releasing pictures of the event. "Jack Ma's attendance, his seating in the front row, even though he did not speak, and his handshake with Xi are clear signs he has been rehabilitated," China analyst Bill Bishop wrote. Social media was abuzz with users praising Mr Ma for his return to the public spotlight. "Congratulations [Jack] Ma for the safe landing," said one user on Chinese social media platform Weibo. "The comeback of [Jack] Ma is a shot in the arm to the current Chinese economy," said another. It is unsurprising that observers have attached so much significance to an appearance by Mr Ma. Before his disappearance from public life in 2020 - following comments at a financial conference that China's state-owned banks had a "pawn-shop mentality" - Mr Ma was the poster boy for China's tech industry.
Reuters Analysts say Mr Ma's return could signal a change in policy toward the technology sector
An English teacher with no background in computing, Mr Ma co-founded Alibaba in his apartment more than two decades ago after convincing a group of friends to invest in his online marketplace. He went on to build one of China's largest tech conglomerates and become one of the country's richest men. That was before his "pawn shop" comment, when he also lamented the "lack of innovation" in the country's banks. It led to the cancellation of his $34.5bn (£27.4bn) stock market flotation of Ant Group, his financial technology giant. This was seen at the time as an attempt by Beijing to humble a company that had become too powerful, and a leader who had become too outspoken. Analysts agree that the fact he's back in the spotlight, at a symposium where Xi Jinping himself presided, is a very good sign for Mr Ma. Some caution, however, that the fact he was not among the speakers may show that he has not fully returned to the exalted status he once enjoyed. Also, the lack of coverage his attendance received in Chinese media outlets seems to confirm he has not been completely rehabilitated.
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