Alibaba founder Jack Ma expressed his views while addressing a seminar in Macau.
Executive chairman and founder of Alibaba Group Holding Limited Jack Ma has urged youngsters in Hong Kong who are interested in ending up their relations with China to clearly think about the consequences of their demands. Mr. Ma, who is also owner of the South China Morning Post, discussed the rise of local sentiment in HK while addressing university students in the city of Macau on 6th June 2016.
Youngsters must also “think of their roots”, he added. On an exclusive note, Ma voiced his hope to register Alibaba partner Ant Financial Services, in the Chinese special administrative region. Established 2 years ago, the organization, which runs Alipay, presently offers an online payment, wealth management and insurance services platform that supports the Alibaba empire.
Jack, who is also General Association of Zhejiang Entrepreneurs’ Chairman, was in Macau to inaugurate the association’s chapter in the casino city. Speaking at a seminar attended by many University of Macau’s students, Jack stated some youngsters in HK and Ex Portuguese colony were hesitant to tour the region due to preconceived stereotypical concepts.
“You should really pay a visit to the mainland when there is chance … It would be so meaningful to understand the real situation [of China],” Jack stated. He added that it was also equally important for them to discover the globe. Jack highlighted the benefits which the special administrative regions of Macau as well as Hong Kong enjoyed- mainly the principle of “one country, two systems”- which he stated was internationally unique and provided great chances for business.
He advised Macau and HK to preserve their characteristics, which he stated included the 2 region’s lengthy history of openness to various ideas and people. He also voiced confidence in Macau’s financial market, service sector and the establishment of medium-sized and small enterprises. Exclusively, Jack stated he had never considered delisting his company from the US after it appeared in May that the US Securities and Exchange Commission was probing the online retailer’s accounting methods to decide whether federal regulations had been violated.
Such a probe was a usual practice, he stated suggesting that it would prove to be a nice opportunity to permit those who have any misconception regarding the web retailer as well as other China based internet companies learn more regarding China and its organizations.
When questioned that would he consider listing Alibaba Group in Hong Kong, he stated it would be “troublesome” anywhere. As far as the Japanese telecom SoftBank’s latest decision to spin off more of its stock in the Hangzhou based organization, Jack stated their relations continued to be unchanged. He stated the Japanese internet and telecom organization was just making efforts to resolve its financial issues.
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