China’s Zhejiang province reassures support for Alibaba, led by new chairman Joe Tsai, as company plays pivotal tech development role amid expansion into AI, enterprise market
Alibaba must “regain momentum, open new chapters and renew glory” to make a greater contribution to Zhejiang, Yi told the company’s top management, according to the Zhejiang Daily report. He also said it was Zhejiang’s hope that Alibaba would further deepen its roots in the province to serve China and the world.
Alibaba Group Holding’s top management (left), led by chairman Joe Tsai and chief executive Eddie Wu Yongming, meets senior officials of eastern Zhejiang province at a symposium in Hangzhou on October 31, 2023. Photo: Handout
Yi, who visited Alibaba’s headquarters in Hangzhou last December after his appointment as Zhejiang’s party chief, said Alibaba must not only set an example in the “platform economy” – referring to the country’s internet sector – but also in terms of charity work and support for the Communist Party’s development, according to the report.
Specifically, Yi called on Alibaba to boost investment in frontier tech research and promote innovation in digital technology.
The Communist Party’s seven-member Politburo Standing Committee, the country’s highest policymaking body, in July said the nation will “promote the standardised, healthy and sustainable development of [internet] platform enterprises”.
Yi Lianhong, the Communist Party Secretary of eastern Zhejiang province, calls on Alibaba Group Holding to boost strategic investments at a meeting with the company’s senior management in Hangzhou on October 31, 2023. Photo: Handout
The Politburo’s strong endorsement shows Beijing’s resolve to enable Big Tech companies to resume their growth trajectory and help boost the country’s post-pandemic economic recovery, which regained some momentum in the third quarter.
Alibaba had long been the poster child of Zhejiang’s vibrant private sector, with founder Jack Ma developing rapport with local authorities since the company was established in provincial capital Hangzhou in 1999.
New Alibaba CEO sharpens focus on AI as he takes over the reins
The company’s meeting with Zhejiang officials was conducted on the sidelines of the opening of Alibaba Cloud’s annual Apsara Conference in Hangzhou on Tuesday. The three-day event, which was attended by Zhejiang Governor Wang Hao, concluded on Thursday.
Denial of responsibility! Chronicles Live is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – chronicleslive.com. The content will be deleted within 24 hours.
