Its time for the internet to help small businesses: Jack Ma

Want China Times, Xinhua 2014-11-22

Jack Ma speaks at the opening of the First World Internet Conference,
Nov. 19. (Photo/Xinhua)

Jack Ma, founder of Alibaba group, described on Thursday how the company is exploring ways to help small businesses not only in China, but all around the world.

The three-day First World Internet Conference opened on Wednesday in the scenic river town of Wuzhen with roughly 1,000 internet professionals in attendance, representing more than 100 countries and regions. It was in this beautiful setting that Ma said, "traditionally, all we think about is how to sell products to others and how to get money out of the pockets of consumers."

"The internationalization of Alibaba's business requires us to ponder the issue of how to help others sell their products to us. China's rapidly rising middle class is posting a huge demand for foreign products." In February Alibaba launched Tmall International, dealing mainly in commodities produced or sold in overseas markets.

Ma believes that in the global village, old trade modes will be transformed, and, within the WTO framework, the rules of game are set by governments. The market is frequently at the mercy of international relations. The internet has made it possible for a business world built by the entrepreneurs to evolve on the basis of the market economy and unencumbered by political squabbling.

In September, Alibaba was the source of the world's biggest initial public offering.