Jack Ma outlines e-commerce vision for China

The founder of Alibaba Group speaks to investors at an annual Credit Suisse conference ahead of stepping down as CEO in May.
Jack Ma
Jack Ma

In five years, e-commerce will account for 30% of total retail sales in China, Alibaba chairman and CEO Jack Ma said yesterday in a passionate speech that displayed his unwavering belief in the continuing development of the sector.

“Traditional businesses still think e-commerce is a business model. It is not, it is a lifestyle,” he told the audience at Credit Suisse’s Asian Investment Conference, adding that in 10 years nobody will talk about e-commerce as it will be a natural part of everyone’s lives, just like nobody is talking about electricity today.

The Alibaba Group, which includes Taobao, the popular consumer-to-consumer online shopping platform, and business-to-consumer sales...

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