Wednesday, 10 June 2015

Alibaba's Ma says not in US to compete

Chinese e-commerce titan Alibaba Group Holding Ltd does not want to fight for US market share but instead hopes to help small US businesses sell more goods in China, executive chairman Jack Ma said.

Ma is visiting the United States this week to explain Alibaba's global strategy and to "help dispel misconceptions" about the company, spokesman Greg Jenkins said in an email.

"We're not coming here to compete," Ma told the Economic Club of New York on Tuesday.

The vast bulk of Alibaba's revenue comes from its dominant domestic online marketplaces, but the company has been investing aggressively in a range of sectors abroad.

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