© Reuters. FILM PHOTO: Co-founder of Alibaba Group and EC Ma Attending Trade Union Trade Trade Forum SHANGHAI (Reuters) –…
SHANGHAI (Reuters) – Jack Ma, Head of E-Commerce Giant Alibaba (NYSE 🙂 Group Holding Ltd and China’s most famous capitalist, is a communist party, said the official party day on Monday and debunked a public assumption that the billionaire was politically unlinked.
The People’s Newspaper revealed the Ma Party’s membership in a list of 1
00 people who said it had helped push the country’s “reform and open up” process. Ma is China’s richest man with a fortune of $ 35.8 billion, according to Forbes.
It was unclear why the paper chose to mention Ma’s connection now but it is under pressure from Beijing to make the country’s private business more in line with party values, especially in the technology sector that has grown up, driven by the success of private companies .
Ma, who announced in September that he would go down as Alibaba chairman next year, is China’s highest profile leader. He has acted as adviser to the political leaders in Asia and Europe and promoted great aspirations in the United States.
He has driven Alibaba to become a giant of $ 390 billion, dominating China’s online retail, ranging from logistics to social media,
Ma’s political affiliation came as a surprise to many.
Results from the domestic search engine Baidu Inc (NASDAQ :), when asked “Jack Ma is a Communist Party member”, also said he was not.
Alibaba refused to comment on Ma’s party membership, but the political ties had no impact on the company’s business.
“Political affiliation by any executive does not affect the business business decision process,” a spokesperson said in e-mail to Reuters on Tuesday.
“We follow all laws and regulations in countries where we work when we fulfill our mission to make it easier for people to do business somewhere in the digital era.”
People’s diary also includes Baidu’s head Robin Li and Tencent Holding Ltd, Chief Pony Ma, but did not mention any of them as party members. Baidu, Alibaba and Tencent together form the BAT trio of China’s high-tech companies.
Fackmedia wishes to remind you that the information on this site is not necessarily real-time or accurate. All CFD shares (stocks, indices, futures) and Forex prices are not provided by stock exchanges but by market participants. Prices may therefore not be accurate and may differ from actual market prices, which means that prices are indicative and not suitable for trading purposes. Therefore, Fusion Media is not responsible for any trade losses you may incur as a result of using this information.
Fusion Media or anyone involved in Fusion Media accepts no responsibility for loss or damage resulting from trust in the information including data, quotes, diagrams and purchase / sell signals found on this site. Be well informed about the risks and costs associated with trade in the financial markets, it is one of the most risky investment forms.