Top 10 business and economic leaders of 2012
- By Yang Xi
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E-mail China.org.cn, December 27, 2012
Jack Ma
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Jack Ma is chairman and chief executive officer of Hangzhou-based Alibaba Networking Technology Co. [Photo/cctv.com] |
Jack Ma is chairman and chief executive officer of Hangzhou-based Alibaba Networking Technology Co. in eastern China's Zhejiang Province.
He owns and is at the helm of two of the world's most popular websites in Mainland China, namely Taobao and Tmall.com, both part of the overall Alibaba Group. Ma is the first mainland Chinese entrepreneur to appear on the cover of Forbes Magazine and ranks as one of the world's billionaires.
Alibaba's Taobao.com and Tmall.com made 19.1 billion yuan (US$3.03 billion) in "11.11" online sales this year. More than 213 million netizens purchased products on Alibaba websites on that single day. Alibaba's Tmall.com accounted for 45.1 percent of the Chinese market by the third quarter, followed by 360Buy's 17.4 percent and Tencent's 3.5 percent.
Alibaba.com, a leading business-to-business website of the Alibaba Group, delisted from the Hong Kong Stock Exchange in 2012. Privatizing the website would allow the company to make long-term decisions that are in line with its customers' best interests, and would free the company from the pressures of having a publicly listed company, Ma, the group's chairman, stated after announcing the plan in February.
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