Jack Ma returns to China after leaving the country for a year

Alibaba's billionaire co-founder Jack Ma has returned to mainland China after spending a year overseas. That's according to a Wall Street Journal report that says he spent most of the last year in Japan. In November of 2020, Ant Group called off its IPO after Ma gave a speech at a financial forum that drew the ire of regulators in China. Regulators then launched a probe into Alibaba for anti-competitive behavior that resulted in a $2.8 billion fine. A lot of talk about what this might mean, what it might signal. There has been some thought that the Chinese Communist Party is trying to maybe calm concerns about private business there, especially as they are looking to shore up the economy after everything happened with COVID and beyond.

Later this hour, we will be speaking more about this with Eunice Yun. She is in Beijing. Coming up, Minneapolis Fed president Neil Keshe-Garry, who we talked about earlier, speaking out over the weekend about the turmoil in the banking sector. Details next.

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