Shopping Malls Are Like Battlefields.

In response to the competition between Tencent and social media tools, Ma Yun said, "shopping malls are like battlefields. I have given up all my life and death, but Tencent is doing social networking. We want to do community in the future. What communities do is to share and how to build a wider community. We are interested in it, not to imitate WeChat, but to surpass WeChat."

Ma Yun: the first time I learned skiing was Yabuli. After I finished skiing at Yabuli, I went to Switzerland. As a result, I climbed to the top of the mountain in a 15 minute tramway. I saw it terrified. I didn't know that 15 minutes could climb so high. When I saw the slope of the mountain and all the skiing roads couldn't find the way, I didn't dare to slide at all. I spent almost 2.5 hours walking down.

In fact, sometimes we think we know a lot of things and think we know it. If we do not have the awe of the future, do not feel grateful for the future, have gratitude for yesterday, fight for today, and have reverence for tomorrow, we may stumble and stumble forever.

Today, the whole enterprise may have encountered difficulties. Most of the people today have difficulties, and they are getting bigger and bigger. They are getting more and more annoyed. I believe that many difficulties that I have encountered may not be met by many of the companies here.

But how to do it? Choose to do business, choose to be a Alibaba, choose to do Internet, choose a group of young people to do this together, you can only persist, you believe you can flicker, we said yesterday, "flicker is to let oneself do not believe, but let other people believe", in fact, we do not care about others believe it or not, anyway, I believe.

Ali has so many problems to go to today that Wang Shi went out to climb the mountain. Anyway, I did not climb.

I asked him why he climbed the mountain. He said that climbing to the top of the mountain can be very clear. I can think clearly on my toilet. I climb mountains and snowy mountains every day. All our entrepreneurs are thinking about how to cross the snow mountain every day and how to pass the ridge.

So in fact, we must see clearly the disaster in the future. Only when we see clearly the disaster, see clearly the difficulties, know the people who have disasters and know the difficulties, are they qualified to be optimistic, otherwise they are blind and optimistic.

You don't know where the future disaster is, and your optimism is blind.

Therefore, I have seen that China's economic situation is not good for anyone, so this is a good thing. If it is bad for you, then you will be in great danger.

What's more, the economic quality is not much related to you. Is there any problem in China's economy today? Which country's economy is not a problem? There are problems, but I see for myself that today we are more worried about the economic panic than the economic problems.

After all these years of pformation and upgrading, it is said that China's economy has not been sustainable for so many years. We do not fully realize that the financial crisis has had such a big impact on China in 2008. The outbreak of the financial crisis is actually like a tsunami. Today it is a process in the United States and then in China.

Because we are not fully prepared, and we are not fully prepared for the cost of the pformation and upgrading of China's economy. Everyone is calling for pformation and upgrading, but the cost of pformation and upgrading is great, and we should not prepare for it.

But today, the whole economic downturn, supported by energy, oil and resources, is imperative.

But another judgment of the quality of the economy is not too much to do with GDP. Judging whether a country's economy is healthy or not depends on whether employment is stable and whether young people have job opportunities.

If young people lack employment opportunities, the economy will not work even if GDP is very high. There is no problem in the employment of young people in China today. If this problem arises, it is really a disaster for everyone.

Where did the young people go?

In fact, China now has three new growth points, these three new growth points, first, the service industry.

Second, consumption.

Third, high technology.

This is China's new "three carriages". If we invest the traditional and infrastructure investment, export oriented, and domestic demand as the carriage, then the consumption, service and hi-tech are three Mercedes Benz cars.

Because this is the only way to think about it. This is what the United States has gone through, Europe has experienced, Japan has gone through what we have to think about. The real three level of China's future is not the carriage of cars, that is, to make consumption, to do services, and to make high technology. This is the problem we need to solve.

From the three old carriages, we have to think about a problem. Our country's infrastructure investment has invested so much money in 30 years. Should we invest from infrastructure investment to infrastructure application, we have invested so much equipment and invested so much money, but the difference in application power is beyond everyone's imagination.

That is to say, if the hotel is not handed over to the Mediterranean club, if the boss himself buys, builds and uses it himself, if you have a hotel that is being handed over to Shangri-La or operated by your own family, if our country opens up decades of investment to private enterprises, the operation must be professional and must be handed over to the market for operation.

So I feel that this is a great opportunity. We need to revitalize our assets and do what the country bought previously.

Second, an export oriented economy can not be sustained.

We must balance the development of imports and exports. China has become a huge market in the world and must become the largest buyer market in the world. I strongly agree to learn to buy, learn to buy other things, enter China, attack China, and accelerate China's pformation and upgrading.

China is not overcapacity, backward production capacity, high value production capacity is not enough, toilet is not China will not produce, is a good toilet creative toilet, we will not produce, production is not enough, so we must take into account the balanced development of imports and exports.

Another domestic demand market, what is domestic demand? Domestic demand is consumption. The two words of "domestic demand" are not correct, and domestic demand is raised by economists.

Why consumption can not be done, and domestic demand is not good? Because investment and exports are government oriented, consumption is market-oriented and enterprise oriented. The government may have the ability to dig out the money of banks for infrastructure investment, and the government can stimulate the export through various means, but it is difficult for the government to dig out the money from the pockets of ordinary people to do something.

Therefore, it is the innovation of the entrepreneurs and the behavior of the market to take the money out of the pockets of ordinary people.

Our country should continue to go on the road of market economy.

So I feel that the two words of consumption and domestic demand should be redefined. In fact, we are pulling consumption.

Like many filmmakers now, why do you ask him for literature and art and culture?

You are silly there, culture is plated abroad, an actor said to be a cultural person, you are a museum or a library, culture is the concept, I am entertainment, and it is so good that everyone can understand.

So what is consumption today? Consumption is something that can be consumed. The so-called fee is something that can be wasted.

This is not difficult to understand, nor is it difficult to stimulate consumption. Consumption can be consumed, consumables and quality consumables are huge opportunities for China's 1 billion 300 million people. What can be wasted? What is waste? We used to think that cars and houses are two domestic needs. Cars and houses buy two times a year. Cars and houses can be consumed every day. Hanging on a wall is a waste of Picasso's paintings. But these things consume China's economy before they get up, so stimulating innovation is innovation and market behavior.

There are so many things that China can do. There is only one problem in our company's blind process. Your imagination is not enough.

To imagine how the United States started investing in the market once more than 20 years ago, investing in infrastructure and export-oriented markets, they did a very important lesson. Why did the United States more than 200 million population, the entire consumption, the middle class level is tens of millions and fifty six million people? But this demand led to the world economy. Today, the middle class in China, the middle income group has 300 million, our income is middle income, but our consumption ability is still a peasant level.

We do not encourage people to consume. We do not encourage young people to spend money. That is, we have no confidence in the future.

In fact, confidence in the future is not the so-called establishment of a complete set of medical insurance. This is also a scholar's idea. We really have confidence in the future and have confidence in young people. Whether we have confidence in the future is young people. So today we see that a large number of young people in China have joined the high-tech industry, joined the consumer industry and joined the service industry, so this is our opportunity.

I have always been confident about the long term China's economy. In the short run, it is problematic and forget the short term. If you do business for next year, you are just a professional manager for the next quarter. Professional managers are thinking about the next quarter. As an enterprise, five years, ten years and twenty years should be considered. If there are several cycles in terms of twenty years, as long as several good companies have experienced several cycles, please tell me which company has not experienced any unfortunate period, and enterprises that have not experienced bad times can never become an enterprise.

A woman who has never been hurt is called a woman, and a man who has never been hurt is called a man. It is a boy, a girl, an enterprise.

So everyone here thinks that China will only have this road in the future. The investment and export of infrastructure will definitely not work if we insist on today. Then, consumption is the driving force of creativity, creativity and innovation, encouragement, creation, innovation and encouragement to the market economy. This is our great opportunity.

Now is the brave who wins, the wise wins, and the victories prevail.

So I see that this is an opportunity. People do not know how to look at it. Anyway, I am full of confidence in the future, but I am cautious and cautious about today and tomorrow.

But in a word, before this, today is still insisting on this, today is very cruel, tomorrow is more cruel, the day after tomorrow is very beautiful, but most people die tomorrow night, is not see the day after tomorrow, believe that you will go out.

Interactive record:

Jiang Changjian, an associate professor of Fudan University: as an entrepreneur, what do you think of the reform of the supply side?

Ma Yun: in fact, the core idea of supply side reform is to take customer as the center, take the market as the center, change oneself to adapt to others.

In fact, the change of supply side is not only for enterprises, but also for the government. If the government changes its own process and changes its work to truly adapt to social development, enterprises must also.

Our original pattern today is B2C, the enterprise's own imagination, what I think the customer needs, I imagine what the market wants, produce things to find the market, and the future change is what consumption needs and needs to be customized, but scale flexibility customization, we must reform ourselves to adapt to the future, instead of changing others to adapt themselves, is actually the problem of ideology.

I personally understand that Alibaba has talked a lot about it. In twentieth Century, the whole manufacturing industry was only B2C, and the biggest change in twenty-first Century was C2B. Everything was customized on demand. This is how the supply side can change the supply side, how to change its own process, change its culture, change its organization, or even change its talent structure to meet the needs of the outside world.

Jiang Changjian: but if you combine yesterday's idea of an electric giant, traditional enterprises should cut down the electricity supplier department. What do you think?

Ma Yun: what else is easier than cutting down the Department? If you are an entrepreneur, doing business is always the easiest thing to do. How can this enterprise do well?

Today, customers do not want to go to supermarkets, but do not want to go to department stores.

The development of e-commerce in China is not due to the fact that Chinese e-commerce enterprises are doing very well, but the original commercial infrastructure is really poor. The original department store did not think about it, because at that time it was purely extensive development and demand was strong, so it was easy to Zhang three, and Li four could do it, so long as it was smart enough to do it.

Considering the experience of customer experience, there will be problems when I think of the experience of customers. Today, all enterprises remember that the electricity supplier is not a retail channel, it is not a way of selling, it is a way of thinking, it is like an electric invention. Of course, you used to burn with coal. You burn coal. When you suddenly use electricity, you turn the suppliers who supply the matches to the coal, but the internal talents need to be changed. It is very complicated. But are you willing to insist on burning coal or people will use electricity, you are willing to use electricity, the cost is higher at the beginning, you have to have such equipment, but the control of the reform lies in whether you believe it is the future. But today

If we believe this is the future, we must change it.

So I feel that it is not to turn off the electricity supplier departments, but to think about how to make the electricity supplier departments more powerful, and truly focus on customer demand as the main direction.

We know that large enterprises, many people are considering outsourcing, I have several departments in the company is never outsourcing, services are not outsourcing, sales do not outsource, complaints can not be outsourced.

Because if you don't know what the customer complains about, what you like, you are equal to wearing ten clothes. You don't know whether it's winter or summer. Now, let's take a closer look at how many of those companies that outsource services are living well, because they are far away from the customers' crying and away from what customers like and hate.

Second, sales can not be outsourced. Sales are the first line of contact with customers. They need to know what customers need and what they need to compete in the market. If these two things are outsourced, what do you want to do? What is the most extensive way of doing this is to create a product that you can sit in the room and design yourself. If there is supply side reform in the future, there will be no consumer demand for C2B, no consumers' pain, no tears and joy from consumers, how can you reform yourself, and reform yourself, for the boss's favor or for cost.

So I think I want to understand what is necessary and what is not.

Jiang Changjian: make it more detailed.

Ma Yun: sales for all of us, sales are real services, because sales departments are directly facing customers, sales are not selling a machine, sales are selling companies' ideas and belief, selling your company's value system, selling your company's sense of mission.

In this process, the most important thing to get back is not money, but the feeling of customers, the needs of customers and the change of customers. These markets are the biggest revenue of sales.

So everyone in the Alibaba knows that we have an Iron Army called a Chinese supplier. All of us do not pmit products from Chinese suppliers. We pass on our understanding of the Internet. Our system of the mission value of the Internet is not a product of 30 thousand dollars per product. But after every product is gone, how the customers see our products and how we look at our services are the biggest revenue.

In the first three years of the Alibaba, there is no income. We have no profit, because there is no income at all. What is our biggest income in the first three years? Thousands of thank-you letters and letters of complaint, because these letters of thanks and letters of complaint are the real biggest revenue profits.

So why is it free to customers? When we have no confidence in our products, we can only get free. We are free to let customers participate. When customers are using your products, they also need to take risks. We share risks and create the future together.

So I think we think from the thinking, sales department and service department, customer service department, as far as possible, outsourcing technology, and even outsourcing brand, outsourcing a lot of things, but these two things can not be outsourced, because outsourcing is to give their core customers to others.

Henry Kiska Estaing, Global CEO of Club Med, said: the Internet may not be able to meet some needs, and eventually, many people can return to traditional industries.

Customer demand is inconsistent with the needs of shareholders. For example, everyone wants me to buy a bottle of water at a very cheap price to deliver it to my home within one hour. Customers think it is satisfactory, and the cost is not necessarily acceptable from the company's perspective.

The other is the issue of tax. The Internet BAT will not have to pay taxes, so if the two factors, the real cost and the tax issues are taken into account, the price of goods offered on the Internet will be relatively cheap.

At this time will some customers return to stores, or these customers because they rely on the Internet so that they are willing to use such a price to operate on the Internet.

Ma: the first question is about the interests of customers.

The problem.

Alibaba has been listed from the first day until now. For the past 16 years, it has been adhering to customer first, staff second and shareholders third.

Only by meeting the needs of the customers and being happy can the employees innovate. Only the customers are satisfied and the employees are satisfied, the shareholders will be satisfied.

Do not believe that shareholders tell you, I am looking at the long-term benefits, because he can sell you today to buy a new one, this is the son of your family, you can only accompany it to the old, so first of all, I want to tell you that Alibaba firmly believes that the customer pays us money, and only if I serve good customers, can I have food and drink parents, only the employees are the people who create value, and only the staff are happy to make shareholders happy, so this is our definition, and Wall Street believes that shareholders are the first.

The first problem of shareholders is big. Today, if we want this, we need this tomorrow.

Because most shareholders do not understand your strategy. Most shareholders do not understand your pain. Most of the shareholders only analyze you from the data, and you know yourself best.

So let me first tell you, do not think that shareholders are always right, but respecting them, finally, you decide to do so.

Eight or nine years ago, there was an experiment in Beijing where a company did electronic commerce. He said he could send anything to Beijing city in an hour. As a result, people said I bought a coke, and the company soon went bankrupt because he did the right thing at a wrong time.

But today, you may sell all the water on the Internet, like lobster. We sold lobster lobster 98000 days later last year and sold a lobster. It must be a loss. As to whether the Internet is a tax payment problem, it is simply a misunderstanding. We know how much the Alibaba paid in 2015. We paid 17 billion 800 million in Zhejiang a year. Our company does not include our investment holding company for a year. Our company has to pay 80 million tax every day.

We are in China today, you go to investigate, in various counties and cities, each province, the top 20 profitable big family, how many are Taobao Tmall stores, China is producing a new entity, so people speak of virtual economy, the real economy is antagonistic, not virtual win, not real win, but virtual and real together will win.

Some people say that the retail industry has been washed up by the Internet, but you have been washed up by the Internet.

WAL-MART closed 250 stores in the first half of the year, and all the owners concerned were concerned about one problem. Why did I not pay attention to the Internet a few years ago?

It is said that I did not seize this opportunity, so in the end I can boldly say that in the next 10 years, the most taxable enterprises in China will use the good Internet today, use good data high-tech, fully tap the consumer and real service industries.

Ali, who would have thought, we can pay more than 178 billion tax in 2015, but this year we did, we have to do it next year, we only received two percent points of enterprise, and there are more than 90% enterprises we do not accept the cost, it is on the scale, by technology, by the product to improve, not by people.

So whether it is VAT, tax must be done, but one thing to remember, what is the main force of our economy today? To do economy is to be the main force, the drive of the Chinese economy is the government drive, the main force is the first private enterprise, the second, the state enterprise, and the third foreign enterprise.

In the first 10 years of reform and opening up, the development of private enterprises has entered the development of private enterprises. In the last 10 years, foreign-funded enterprises have come in. In the first 10 years, they are state-owned enterprises. Now let's take a look at the fact that all three armies have been knocked out. Now it is a young person who is supported by consumption, service and technology. The 11 sales are about 90000000000, and sixty or seventy percent of sales come from those enterprises.

So this is the hope for the future of our country and this era. This group of enterprises created by the post-80s and 70 generations, they use high-tech means to create innovation and discover demand, and make clear this point.

So why today's retail pain, department stores used to destroy all small business hawkers, they found demand and created demand, and today they stay in real estate. Today, Internet Co has discovered demand, created demand and led demand, which is the progress of the times.

Li Xiaojia, chief executive officer of Hong Kong Exchanges and Clearing Ltd group: you just talked about customer first, staff second, shareholder third. Do you think this is a universal value or is it just like Alibaba, Tencent such a company can be applied?

Ma Yun: I think customer first, employee second, shareholder third is the universal value of enterprises in twenty-first Century.

The last century is centered on machines, production materials and energy, so there is no doubt that money can buy machines, resources can be bought, and energy can be bought simply by production.

And this century is going to be human factors, innovation, creativity and creation. In the last century, people were used as machines. In this century, when people centered, they used machines as human beings. This is a huge difference.

Therefore, human factors will become the core elements of the twenty-first Century. If you take human factors as the first element, you want to take innovation, creativity and creativity as the first element, then take people as the first element. If people are the first element, they are customers first, employees second, shareholders third. I will not invest in a company, only rely on some capital, buy some machines, buy some raw materials, buy some energy, and can produce. People always have more money than you, and the machines produced are faster, so this is what I will not do.

In twentieth Century, from the real estate manufacturing industry, it must be the first shareholder. But in twenty-first Century, when we entered the era of "People Oriented Innovation", we must also take the customers first, the staff second, and the shareholders third. No matter whether they are willing or not, I insist on this anyway.

Sai Fu Asia Investment Fund chief partner Yan Yan: the entire Internet field, basically formed the BAT three monopoly, in the long run, will this play a strangling role in Internet innovation?

Ma: first, I want to tell you that BAT is not a monopoly, but a temporary lead.

In the end, which one of the three families of BAT will go down, and then ask the questions you heard today, 20 years ago, I met you. 20 years ago, I heard Bill Gates rubbing the fire. It was estimated that no one could turn him around. He heard Bill Gates rubbing the fire and heard that IBM was rubbing the fire. That was my mindset. I always wanted to be Bill Gates and always wanted us to be IBM. Finally, I found that the old king next door was better than me.

Slowly changing the world, as long as we grasp the opportunity, as long as we insist, as long as we continue to learn or have opportunities.

Another point is that today's young people are always trying to become the next BAT. We seize the opportunity of history. There are a number of good times, good industries, plus good employees adhering to their mission today. But how many Internet Co can persist in 5 years or 10 years? No one can afford to monopolize the future at that time.

So another point is that there are three big mountain monopolies. If there are landlords in the village, you can get rich if you don't destroy the landlords.

Wu Ying, chairman of Nakazawa Kamei Investment Fund: do you think there is a need for the three Internet Co to unite each other in order to provide more convenient services to customers? Are you willing to do such a thing yourself, from Ali's point of view, do you want to tie the big family together to make the market bigger and better serve the market?

Ma Yun: if the three companies really join together to do a thing really become a monopoly, the three of us must compete. The aim of competition is to make the market healthier, healthier and more fair to users.

Second, we must work together to do this and improve our services. I totally agree.

I believe every company is making such efforts. Therefore, I joined hands with Ma Huateng on public welfare first and reached a consensus step by step.

But if we want to be clear, we should not be naive. Three do not look so great. Tencent has the pain of Tencent. In fact, it is more difficult at the time, and everyone is also on thin ice. Let's not see that his cash income is very good. Let's not see that the profit is very good. How strong is Microsoft then, how fierce the motor mororas were before? How fast did the situation change? How fast did it change in ten years? So whether three people are still BAT after ten years, whether Alibaba can still exist, whether it can still lead to the future and create the future.

Finally, let's talk about a point of view. Today, people say that BAT is too big. Alibaba is too big to fail. No company can't afford to fail.

Today, as the second largest economy in the world, how many enterprises such as BAT are the largest economy in the world, how many enterprises such as BAT in Europe and the United States are in the second largest economy, how many enterprises like Japan in the second largest economies, and how many Japanese companies like ours are so few. China has become accustomed to making state-owned enterprises bigger and the private enterprises really bigger and bigger.

In such a big economy, China does not need a BAT. China needs dozens of BAT and hundreds of BAT. That will make our country's economy prosperous.

Li Yifei, chairman of Man Group, China: because you are a very intelligent person, what have you done about Alibaba after you have left the world? How do you deal with your wealth?

It is impossible to be smarter than robots, but we can compare with robots in intelligence, but I do not think I am wise, wisdom is actually a moral undertaking, wisdom is useful to others, and wisdom is to help others. I do not think that I am such a wise person, but I think I want to understand a reason. We can not control where we were born, where we were born, but we can control how we die. We know how we can not go to prison. We must understand ourselves. If we do not want to be killed by tiger, do not go up the mountain. If we do not want to drown, do not go to the river. Ma Yun: I'm definitely not smart. I think human beings need to be in twenty-first Century.

Alibaba has to live for at least 102 years. From the first 10 years to 20 years, I have been protected by genes, missions and the whole system. So what will happen in the future? I can not control it.

As for whether I have considered my own death, I have considered it very clearly. I know that I will have a day to leave. Especially at my age, I have seen what I have seen before. I want to understand that death is not terrible. But after death, what do you say about the company? This is the most energy that I spend now. How can I keep this company away? When we are away, it can still have a group of people who are more powerful than us, finding people, establishing culture and establishing mechanisms.

So today, if you want to die at 80, 90, 100, you are ready today. If you are looking for a successor, look for it when you are stronger than you are. Don't look for it when you are seventy or eighty years old. It's too late to regenerate your son at seventy or eighty.

Wang Chaoyong, founder and chairman of Zhong Li Li capital group, there is no doubt that you will become the richest person in the world. I want to ask a question, where is the boundary of enterprises? Just like your favorite Agam, everyone is running. I am tired and I do not run. Is this a boundary?

Ma Yun: what is the boundary? The first richest person, I think, the richest man is the richest, the second is the biggest indebtedness, and the third is the biggest responsible person.

Anyway, I am definitely not the richest person in China. The richest person knows who he is. I never thought about it. When I first started my business, I said to my wife, "do you want me to be the richest person in Hangzhou, the richest person in the lower City District?" she said, "come on, don't talk nonsense. How can you be the richest person?"

I said, "do you want me to be rich or respected?" she said, of course, respected.

But I think "the richest" is "responsible". The most important boundary is "blessing", happiness, family happiness and friends. This is the greatest blessing. We can not be the richest person, but we can certainly be a good fortune. So the biggest boundary is that I feel happy. I am not happy today, because I didn't think I could do so many things today.

If you don't do it, it's not ideal. You can do it. It may not be ideal.

But I think today's society has given me so much resources, such a large market value, so many profits, so many young people, so many data, so many technologies, that if I can't make efforts to contribute to the society today, I think it's wrong.

So, I am not because of greed, not because of the pursuit of market capitalization. It is said that more than 2 billion US dollars have caused such a big mess. If I have trillions of dollars, I will not be able to carry on this small body.

What is boundary? No boundaries.

As long as it is socially advantageous, beneficial to you, and beneficial to employees' shareholders, you will have enough ability to do so.

Zhang Shuxin, chairman of Lianhe express Holding Co., Ltd.: competition between Ali and Tencent, the first is social media, the second is payment.

With regard to social media, Ali now owns Sina micro-blog, you have been a YAHOO, do it, do you still insist on doing social media yourself? Second questions, everyone is vomiting the complexity of Alipay's red envelope, is it for customers to consider?

The first is about competition with WeChat. I just said that if Ma Huateng said, would you compete with Ma Yun? He said it would not be a lie. If Alibaba would, I told you I hadn't thought about it before. Now I think about it.

I used to be hard on my lips, and I didn't start hard enough.

Shopping malls, such as battlefields, will never survive in the market. You have been able to survive. I have given up the "life and death". But we have to take precautions against it. We must put competition in a place, because we must participate in today's world competition, not just domestic competition.

There are huge differences between social networking sites and communities. What Tencent is doing is social networking. Our future development is community, social and community are very different, social sharing is done, community sharing is done, and how to create a wider community activity is our hope.

Because the Internet will soon become a society, in this society, how to build and create together, and how to innovate continuously is our interest. Whether it's going to be good or bad, we will not give up today. We don't think that Alibaba is the main supplier of the electricity supplier. It's only a matter of time before we exceed Alibaba. It's just a concept, organization and talent. I don't think WeChat is a big brother today. It's not a imitation of WeChat, but a continued exploration of the future on the concept of WeChat. This is the necessity for the company of Ali to explore the future.

Today's Tmall, Taobao is not copied by us, it is beyond the future exploration of today.

To pay the red envelope issue, Ali's starting point is purely hope that everyone will have a good year.

I know that good or bad can be used to prove this, and not care about the war, but I don't care if people say hello today. No one says you are very careful. No one says you are bad. We are not as bad as we say. We certainly are not as good as others.

Ma Yun: there is a company like this entering China. This is a good thing. The market is big. A company does not do well in the market.

Apple Alipay today is a traditional bank financial improvement, and WeChat payment is just like the improvement of traditional finance. Our ideal is to create a support for the development of financial support entity economy in twenty-first Century. In twenty-first Century, when we enter the era of big data, how to maintain 80% of enterprises can develop enough. If we use low-cost technology to let data cloud come out, our payment system is to make a financial system that can support the economic development of twenty-first Century instead of purely making a financial tool. I am not interested in making money.

Shih Chun Shu, chairman of the Asian Association: if you have a chance to live with anyone in the world, whether you are alive or not, who do you want to drink with?

Ma Yun: if I want to drink tea today, if I were in China, I would rather have tea with Deng Xiaoping.

He is brave enough to reform. He is courageous. His decision making and moving forward are worth learning.