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Alibaba surged as much as 5.5% after billionaire founder Jack Ma was reported to have returned to his home country recently after a more than year-long sojourn overseas.

The return of China's best-known entrepreneur may help to quell the concerns of the country’s private-sector businesses. His public reemergence provides support for the government's softening tone toward the private sector as leaders try to shore up an economy battered by three years of COVID curbs.

周邦琴Albert

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