Alibaba's Ma steps down as industry faces uncertainty

This file photo taken on January 10, 2017 shows Jack Ma, founder and executive chairman of Alibaba Group, arriving at Trump Tower for meetings with then President-elect Donald Trump in New York.

He will stay on as a member of the Alibaba Partnership, a 36-member group with the right to nominate a majority of the company's board of directors. The company has shifted focus to serving China's growing consumer market and expanded into online banking, entertainment and cloud computing. Domestic businesses accounted for 66 percent of its $16.7 billion in revenue in the quarter ending in June.Growth in online sales decelerated to 17.8 percent in the first half of 2019 amid slowing Chinese economic growth, down from 2018's full-year rate of 23.9 percent.

Alibaba's deputy chairman, Joe Tsai, told reporters in May the company is "on the right side" of issues in US-Chinese trade talks. Tsai said Alibaba stands to benefit from Beijing's promise to increase imports and a growing consumer market. At an annual Alibaba employee festival in Hanzhou, he has sung pop songs in costumes that have included blond wigs and leather jackets.

kasehsaulmouk And his boss will take over. He Just pion. Ma shien seng, You truly make some lokal artist here broke, with online shop 1 gate 1 sistem without tax and exlusive gate.

People :You need to be smart to become a billionaire. Jack ma:Hold my brain.

For Ambani

The Communist chief is his boss.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Jack Ma steps down as Alibaba's chairman. Here are key moments in the company's historyJack Ma, along with 18 others, founded Alibaba in 1999 and worked out of his apartment. Now the company is China's biggest e-commerce player, expanding into areas like cloud and food delivery. CNBC takes a look at the key moments in Alibaba's history. The CCP confiscated his ownership of the company & forced him to retire. No Private property rights! 😱😱😱 Why...? I remember him saying something like - a copy can sometime be better than the original! The strangest thing though it ended up on our stockmarket! Man, i know many fake-brand-markets from middle-east to Morocco who could do the same sh*t!
Source: CNBC - 🏆 12. / 72 Read more »