Date
23 March 2017
Jack Ma aims to boost Alibaba's revenue from outside China to 50 percent of the total, from the current 4 percent. Photo: Bloomberg
Jack Ma aims to boost Alibaba's revenue from outside China to 50 percent of the total, from the current 4 percent. Photo: Bloomberg

Jack Ma in US to drum up new business for Alibaba

Alibaba Group founder Jack Ma is visiting New York and Chicago this week to drum up more business for his e-commerce company as it seeks revenue beyond China, Bloomberg News reported.

Ma will attend an Economic Club event in New York on Tuesday before moving on to Chicago where he will hold a town-hall style meeting with local businessmen, according to the report.

He will also meet with Chicago Mayor Rahm Emanuel, who sees exports to China as a source of job growth.

The meetings come as Ma has set a goal of raising Alibaba’s revenue from outside China to 50 percent of the total from the current 4 percent.

Alibaba is competing with Amazon and JD.com to introduce more Western brands to Chinese consumers.

The Chinese e-commerce giant’s newly appointed chief executive Daniel Zhang told company employees last month that global expansion is a top priority.

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