Jack Ma is Back for BABA!
$Alibaba(BABA.US$’s share price surged as much as 5.5% after news that Jack Ma has returned to China after more than a year abroad to visit a school he founded in his hometown of Hangzhou - signaling an ease of tension between the government and the country’s tech tycoon.
In the past two years, China has faced weak economic growth due to regulatory clampdown and its now-scappred zero-Covid policy, but his return is largely symbolic as allowing him back into the fold could be a recognition from Beijing that it needs private businesses to do that.
There are also other signs that Beijing is loosening some of its regulatory tightening in the sector - like how they have been giving licenses to foreign games to be released in China, as an example. Together with China’s rising growth in consumption, it should improve Alibaba’s ability to meet analysts’ estimates.
Further, Alibaba Cloud is also still the most significant market share leader in China’s cloud computing space and seems to be ready to boost its growth in Cloud AI. According to The Wall Street Journal, they are planning to invest hundreds of millions of dollars in Southeast Asia in the coming years alongside Huawei and Tencent.
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noglyph : A long-awaited return for Jack Ma as the company embarks on this next phase of growth. Apparently, he has been working with $Alibaba (BABA.US)$ throughout this epidemic that was a major impact to the wellbeing of many organizations. Definitely expect more insights, guidance, and growth moving forward with Jack Ma in this evolving digital age.
Ziet Invests OP noglyph : definitely a key figure in the chinese tech sector!