Alibaba co-founder Jack Ma confirmed as a Chinese Communist Party member

Alibaba co-founder Jack Ma confirmed as a Chinese Communist Party member Baku. 27 November. REPORT.AZ/ Jack Ma, co-founder of China’s most valuable company, was officially confirmed as a member of the Communist Party in a state-backed newspaper recognizing business leaders for their contributions to the country’s development, Report informs citing TASS.
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November 27, 2018 12:07
Alibaba co-founder Jack Ma confirmed as a Chinese Communist Party member

Baku. 27 November. REPORT.AZ/ Jack Ma, co-founder of China’s most valuable company, was officially confirmed as a member of the Communist Party in a state-backed newspaper recognizing business leaders for their contributions to the country’s development, Report informs citing TASS.

Ma, co-founder and chairman of e-commerce giant Alibaba Group Holding Ltd., is one of 100 people the Communist Party of China’s Central Committee will honor as part of a celebration marking 40 years since the country’s economic reform and opening up. The honorees also include Tencent Holdings Ltd. Chief Executive Officer Pony Ma, Baidu Inc. CEO Robin Li, basketball star Yao Ming and volleyball coach Lang Ping.

“We’re seeing an increasingly close relationship between China’s leading internet companies and government because government sees them as one of the most effective ways to realize its policy initiatives,” said Mark Natkin, managing director of Beijing-based Marbridge Consulting. “Being a party member is essentially tipping your hat to the legitimacy of the party and it doesn’t necessarily denote any particularly high level of political activity.”

The list of 100 people to be recognized on the 40th anniversary is being made public for review until Nov. 30, according to the People’s Daily newspaper. Beyond business leaders and sports stars, the list includes scientists, astronauts and artists.

Alibaba, which dominates e-commerce in China and has expanded into a wide range of additional businesses, went public in 2014 in the largest-ever initial public offering in New York. At the time, Ma said that investors would be the company’s third priority, after customers and employees. Despite a slide in its stock price this year, Alibaba is valued at more than $400 billion and ranks among the top 10 most valuable companies in the world.

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