You are here: Home > Opinion > Columnists

Adjust font size:

This autumn has been extraordinary, with all the news on the three big A's - Alibaba, Amazon and Adobe. At its core, all this news is about one economy: China.

[China.org.cn]

On Friday, Sept. 19, Alibaba launched a historic Initial Public Offering on the New York Stock Exchange. Not only was this the Largest IPO ever, it also propelled U.S. IPOs to $69 billion so far this year, surpassing last year's total of $62 billion. Meanwhile, Alibaba has made the world rethink China's economy, and it has reassured the U.S .market that a private business from China can make its American dream come true. For Jack Ma, founder and chairman of Alibaba, there is no longer any question about market or non-market economy. With few comments on the role of the Chinese government, Ma convinced Alibaba shareholders by presenting his past as a private small business owner, his present as a private entrepreneur, and his future as a global e-commerce giant that supports small business growth.

Corporate governance has been a key concern during Alibaba's accession to the U.S. market. As a wise businessman and a creative Chinese entrepreneur, Ma said his experience dealing with business-government relations in China has taught him to "get in love with the government, but don't marry with it." He told the world this during a TV interview conducted inside the New York Stock Exchange. He believes strongly that, in a market economy, entrepreneurs should try to "make your customers happy, instead of making your boss happy." Alibaba has just begun its long journey in New York, and it will be very interesting to see where the journey leads next.

Just a month ago, Amazon, the Seattle-based e-commerce giant, announced its move to the Shanghai Free Trade Zone. By entering Shanghai at this particular time, Amazon created another spotlight. As the fastest growing e-commerce market, China can provide Amazon with huge potential business opportunities, not only because of the massive and growing purchasing power of its citizens, but also because of the government's recent deregulation initiatives, including financial liberalization and free trade zone initiatives. The establishment of the Shanghai Free Trade Zone has been recognized as one of the new Chinese leadership's crucial economic reform initiatives. It is viewed as a way to spark deeper economic reform and trigger a new wave of trade and financial liberalization. Amazon's move to the Shanghai Free Trade Zone has excited the company's young Chinese customers, because it looks like they will be able to buy "Made in USA" products pretty easily in Shanghai.

Print E-mail

Go to Forum >>0 Comment(s)

Add your comments...

• User Name Required
• Your Comment
• Enter the words you see:   
  Racist, abusive and off-topic comments may be removed by the moderator.