Wednesday , March 3 2021

Jack Ma’s appearance in a video conference raises Alibaba’s value to $ 58 billion

The market value of Alibaba Group Holding Ltd increased on Wednesday.

The intervention of Chinese e-commerce giant Jack Ma in a video conference on Wednesday more than two months ago has not publicly favored the listing of Alibaba Group Holding Ltd, which had a market capitalization of € 58 billion. on the same day, Bloomberg reported.

The absence of the businessman caused uncertainty among investors, but ultimately caused a “sigh of relief.” While there is still a lot of uncertainty about the actions of Chinese regulators, the fact that Jack Ma was able to participate in video conferencing means that his position is “much better than many speculate,” University Professor Fang Kecheng said, Bloomberg said. Hong Kong China.

“Alibaba is not out of the kennel, but at least it is clear that the current cartel campaign will not penalize Jack Ma,” Zhang Fushen, a senior analyst at Shanghai PD Fortune Asset Management, said in a statement to the aforementioned outlet.

Where's Jack Ma?  The founder of Alibaba has not appeared in public for two months after opposing the Chinese government

In his speech on Wednesday, the Chinese businessman did not refer to the recent disagreements with Beijing, saying only that he intends to spend more time on charity and stress the importance of reducing the pay gap and income inequality.

It is unlikely that the billionaire could have attended the event if the Chinese government had opposed it, especially given that his intervention was represented by state-funded media, including the Global Times. Similarly, analysts came to the conclusion that a public return was a sign that the worst situations, such as prison or the takeover of Ma’s governments, are unlikely to be on the table.

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