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December 6, 2017

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Home » Business » IT

Ma warns foreign firms to obey rules

Source: Agencies | 00:01 UTC+8 December 6, 2017 | Print Edition

JACK Ma, chairman of China’s Alibaba Group Holding, has warned foreign tech firms wishing to enter the China market to abide by its laws.

Speaking at the fourth World Internet Conference yesterday in the east China town of Wuzhen, Ma said foreign companies “are determined to come. Follow the rules and laws and if you’re unhappy, leave. This is not a market (where) you can come and go.”

The conference concluded yesterday after three days of discussions and exhibitions of cutting-edge Internet products.

Government representatives, heads of international organizations, experts, scholars, and entrepreneurs attended 20 forums, displaying their achievements in innovation and discussing means of cooperation.

Well-known tech companies from around the world, including Apple, Alibaba, and Huawei, released their latest products at the conference.

Two reports were also issued at the conference, covering the development of the Internet around the world and in China.

According to the reports, China’s digital economy reached 22.58 trillion yuan (about US$3.4 trillion) in 2016, ranking second globally and accounting for 30.3 percent of the national GDP.

As of June 2017, there were 3.89 billion online users around the world, of which 751 million were in China, the most of any country worldwide.

The conference attracted the heads of Google and Apple for the first time to hear China pledge to open up its Internet.

“I’d compliment the Chinese government in terms of leadership on using data,” Facebook Vice President Vaughan Smith said yesterday. “The Chinese government, the Cyberspace Administration of China and the Ministry of Industry and Information Technology are doing a fabulous job.”

Apple Chief Executive Tim Cook, speaking at the opening of the conference on Sunday, said: “The theme of this conference, developing a digital economy for openness and shared benefits, is a vision we at Apple share.”

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