Alibaba Founder Jack Ma Encourages Business Empire to Stay Resolute and 'Have Faith in the Future'
Jack Ma emphasises the importance of believing in the future and the market in order to navigate through intense competition. Alibaba's Hong Kong-listed shares have joined China's Stock Connect programme, creating new investment opportunities for mainland investors. The State Administration for Market Regulation has concluded over three years of regulatory scrutiny of Alibaba, bringing clarity to the tech giant's future.
In a letter published on Alibaba's internal website to commemorate the company's 25th anniversary, Ma acknowledged the challenges posed by the resurgence of technology and fierce competition in a variety of industries. He emphasised that it is natural for businesses to face the risk of being overtaken in any field, and that it is critical to maintain their core values in the face of competitive pressures.
Ma emphasised that Alibaba embodies an idealistic spirit founded on a strong belief in the future and the market. Despite keeping a low profile in recent years, Ma's letter demonstrates his commitment to revitalising the organisation. Alibaba, the parent company of the South China Morning Post, did not immediately respond to requests for comment on Ma's letter.
The publication of Ma's letter coincided with a significant development for Alibaba: its Hong Kong-listed shares were added to China's Stock Connect programme. This move enables approximately 200 million mainland-based investors to invest in the US$400 billion e-commerce giant. Furthermore, the letter's release comes after the State Administration for Market Regulation completed over three years of regulatory scrutiny, lifting a cloud of uncertainty from one of China's leading tech companies.
Although Ma has stepped down from all corporate positions at Alibaba, he remains a significant shareholder and spiritual advisor to the company. Following these developments, Alibaba's US shares rose 2.6% in New York trading, while its Hong Kong-listed shares jumped 4.21% on Tuesday.
Jack Ma emphasises the importance of believing in the future and the market to navigate through fierce competition.
Alibaba's Hong Kong-listed shares join China's Stock Connect programme, opening up investment opportunities for mainland-based investors.
The State Administration for Market Regulation concludes over three years of regulatory scrutiny on Alibaba, providing clarity for the tech giant's future.
Source: SCMP