BEIJING: 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.
Alibaba, owner of the Post, did not immediately respond to a request for comment on Friday.
Despite stepping down as Alibaba’s executive chairman in 2019 and maintaining a low profile since 2020, Ma continues to be revered as the emblematic figure of Chinese entrepreneurship and the spiritual leader of the e-commerce giant he established 25 years ago.
His return comes at a critical time for China’s private sector, which the government is keen to bolster as it faces multiple economic hurdles. These include a prolonged slump in the property market and mounting geopolitical tensions, especially following threats from U.S. president-elect Donald Trump to impose additional tariffs on Chinese goods.
In a recent interview, Ma had called on employees of the business empire he created in Hangzhou 25 years ago to “believe in the future” and “believe in the market”, as the e-commerce giant faces fierce competition on multiple fronts.
According to his letter published on Alibaba’s internal website in September, marking the 25th anniversary of the group’s founding, Ma said many of the company’s businesses face the prospect of being surpassed amid the “resurgence of ... technology and fierce competition in various industries”.
“This is expected, as no company can always stay on top in any field forever,” wrote Ma, who has mostly stayed out of public view in recent years. “We must constantly [be reminded] not to lose ourselves” amid the competitive pressure.
He said Alibaba is made of “an idealistic spirit”, which means that “we believe in the future, we believe in the market”.
