Alibaba founder Jack Ma returns to China for school visit – SCMP citing sources

© Reuters. FILE PHOTO: Jack Ma, billionaire founder of Alibaba Group, arrives at the “Tech for Good” Summit in Paris, France May 15, 2019. REUTERS/Charles Platiau

BEIJING (Reuters) – Alibaba (NYSE:) founder Jack Ma has returned to China and visited a school he founded in the city of Hangzhou, the South China Morning Post reported on Monday, citing sources.

Ma, who is also the founder of Ant Group, discussed education and ChatGPT technology with the school, according to the report.

Alibaba owns the South China Morning Post.

Shares of Alibaba rose more than 4% after the news.

The report also said the billionaire businessman, who is a former English teacher, returned to China after a brief stop in Hong Kong, where he met friends and also briefly visited Art Basel.

Ma recently relinquished control over Ant Group, a Chinese fintech giant, in an overhaul that seeks to draw a line under a wider regulatory crackdown.