The head of the Chinese internet firm، Alibaba، Jack Ma has told US businesses that it needs more American products in China.
While delivering a speech in New York، Ma stated that his company wants to help small to medium US businesses sell their wares and products in the Chinese market.
Alibaba، which shot to prominence and significance in a short period of time already holds approximately 80% of the online consumer shopping، and is looking for more expansion plans abroad for the future.
Mr. Ma had wanted 40% of the sales from his Alibaba online، to come from outside China than the current 2%. He went on to “emotionally” explain about one of the most leading names in China currently، stating that he founded the company in 1999، was different from Amazon.
According to Mr. Ma، unlike Amazon which had the option of buying and selling stock، Alibaba had provided a platform for small businesses to buy and sell products.
Alibaba was listed on the New York Stock Exchange last year (NYSE)، raising $2.5 billion in the largest IPO recorded in history.
“China has been very focused on exporting،” Mr Ma said، adding، “it should focus on importing. China should learn to buy.”
When questioned on how his company will filter-out and deal with counterfeits، for which Alibaba is has been getting criticism، and currently sued by famous fashion brand Gucci، Mr. Ma said that he was “at war with criminals” and he is working with the government in order to stop counterfeit products being sold through the website.