Jack Ma returns to Alibaba campus, as China moves to boost business confidence

The billionaire founder’s visit is his first known trip to his hometown since March 2023

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Alibaba founder Jack Ma visited the company’s Hangzhou campus on Friday. Photo: Handout

Ann Caoin Shanghai

Published: 6:20pm, 29 Nov 2024Updated: 8:53pm, 29 Nov 2024

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.

Jack Ma posing for a group photo with Alibaba Group Holding employees on Friday. Photo: Weibo

Alibaba, owner of the Post, did not immediately respond to a request for comment on Friday.

Ma’s appearance comes a week after Alibaba announced its largest internal adjustment after implementing a corporate restructuring in early 2023 that carved up its sprawling business empire into six units.