Alibaba Founder Jack Ma Resigns as Company Chief
Jack Ma has resigned as chairman of Alibaba Group, the world's biggest e-commerce business.
Ma is one of China's wealthiest and best-known business leaders. He stepped down as Alibaba's chief on his 55th birthday. The move was part of a process announced a year ago.
He will stay on as a member of the Alibaba Partnership, a 36-member group.
Ma, a former English teacher, founded Alibaba in 1999 to connect Chinese exporters to retail businesses in North America.
China's growing consumer market is now central to Alibaba's business. The company has expanded into online banking, entertainment and cloud computing. Chinese businesses were responsible for 66 percent of its $16.7 billion in earnings from March through June of this year.
Chinese retailing is facing increased risks during the current trade war between China and the United States. The war has raised the cost of U.S. imports in China.
Growth in online sales slowed to 17.8 percent in the first half of 2019 as the country's economic growth slowed. The 2018 growth rate was 23.9 percent.
The total amount of goods sold throughout Alibaba's e-commerce businesses rose 25 percent last year to $853 billion. By comparison, the biggest U.S. e-commerce company, Amazon.com Inc., reported total sales of $277 billion.
Joe Tsai is Alibaba's deputy chairman. Tsai told reporters in May the company is "on the right side" of issues in U.S.-Chinese trade talks. He added that Alibaba stands to improve with Beijing's promise to increase imports and a growing consumer market.
Growth of online sales
Alibaba was established at a time when few Chinese were active online. As internet use spread, the company expanded into consumer-centered retailing and services. Few Chinese used credit cards, so Alibaba created the Alipay online payments system.
The Hurun Report, which reports on wealth in China, estimates Ma's financial worth as $38 billion.
In 2015, the businessman bought The South China Morning Post, Hong Kong's biggest English-language newspaper.
Alibaba's new chairman is Daniel Zhang, who has been with the company for 12 years.
Alibaba's e-commerce business includes business-to-business Alibaba.com. It links foreign buyers with Chinese suppliers of goods from home goods to medical technology. Another Alibaba business is Tmall, with online stores for popular products.
In 2014, Alipay became a financial company, called Ant Financial. Alibaba also operates a film studio and invested in planning and transport services.
Ma faced questions in 2011 when Alibaba gave control of Alipay to a company he controlled without immediately informing shareholders. Alibaba said the move was necessary to obey Chinese law. However, some financial experts said the company was paid too little for a valuable property. Alibaba and shareholders Yahoo and Japan's Softbank later settled the dispute.
Business experts have questioned the Alibaba Partnership, which gives Ma and a group of company officials more control over the business than shareholders.
Ma has argued that such a system helps Alibaba to center on long-term development instead of reacting to pressure from financial markets.
I'm Susan Shand.
1.react to 做出反应
They did not react to this provocation.
2.financial markets 金融市场
The financial markets have given the thumbs up to the new policy.
3.center on 集中在
Her novels center on the problems of adolescence.
4.instead of 代替；而不是
Water companies should concentrate on reducing waste instead of building new reservoirs
5.Alibaba was established at a time when few Chinese were active online.
at a time 一次；每次
He was able to spend only a few days at a time on the island.
This restaurant can accommodate two hundred people at a time.
6.Ma has argued that such a system helps Alibaba to center on long-term development instead of reacting to pressure from financial markets.
long-term development 长期发展
I think this is a big issue for the long-term development of our nation.
In business management based on long-term development.
马云是中国最富有和最知名的商业领袖之一 。他在55岁生日当天辞去了阿里巴巴集团领导人职务 。此举是一年前公布的一项流程的一部分 。
中国不断增长的消费市场如今成为阿里巴巴的核心业务 。该公司还进军了网上银行、娱乐和云计算领域 。该公司今年3月至6月的167亿美元利润中，有66%来自中国业务 。
在当前中美贸易战期间，中国零售业面临着越来越大的风险 。这场贸易战提高了美国从中国进口的成本 。
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去年，阿里巴巴电商业务的商品总销售额增长了25%，达到8530亿美元 。相比之下，美国最大的电商企业亚马逊的总销售额只有2770亿美元 。
蔡崇信（Joe Tsai）是阿里巴巴集团的副主席 。蔡崇信5月份告诉记者，该公司在中美贸易谈判争端中保持正确的立场 。他还表示，随着中国政府承诺增加进口，以及消费市场不断扩大，阿里巴巴的状况将有所改善 。
阿里巴巴成立初期，中国人很少接触网络 。随着互联网普及，该公司进军针对消费者的零售和服务业 。中国人很少用信用卡，因此阿里巴巴创建了支付宝在线支付系统 。
阿里巴巴新任主席是张勇（Daniel Zhang），已经在阿里任职12年 。
阿里巴巴的电商业务包括企业对企业的阿里巴巴网站 。该网站将外国买家与中国从家居用品到医疗技术的供应商联系了起来 。阿里巴巴另一项业务是线上销售热门商品的天猫商城 。
2014年，支付宝变更为“蚂蚁金服”金融公司 。阿里巴巴还经营了一家电影制片厂，并投资了规划和物流服务 。
2011年，马云遇到了瓶颈，当时阿里巴巴在没有立即通知股东的情况下，将支付宝的控制权交予一家由马云控制的公司 。阿里巴巴表示，这是遵守中国法律的必要举措 。然而，一些金融专家表示，该公司对支付宝这样一项有价资产支付得太少 。阿里巴巴和股东雅虎公司以及日本软银集团后来解决了这一争议 。