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Alibaba headquarters in Hangzhou, China.
Bloomberg | Bloomberg | Getty Pictures
Alibaba’s Hong Kong-listed shares have been about 1% decrease Tuesday — after earlier falling greater than 9% —following unconfirmed rumors that linked the corporate’s founder Jack Ma to a nationwide safety investigation.
Chinese language state media reported earlier within the morning that the Hangzhou safety bureau on April 25 took “felony coercive measures” on a person with the final identify Ma over suspicion of utilizing the web to hazard nationwide safety.
CNBC was unable to substantiate the Chinese language report. Alibaba and the Jack Ma Basis didn’t instantly reply to a request for remark.
Subsequent state media updates indicated the particular person had a primary identify with two Chinese language characters, fairly than one. Jack Ma’s first identify in Chinese language solely has one character.
Such “coercive measures” can embody detention, arrest or bail. The safety bureau can also be investigating the case, state media stated.
Jack Ma stepped down from Alibaba’s board in 2020 and not has govt tasks, the corporate stated in a July 2021 assertion.
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