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Jack Ma's $290 billion loan machine is changing Chinese banking

Sunday, July 28, 2019, 5:28 PM

Jack Ma's online bank is leading a quiet revolution in the way China lends to small businesses, taking aim at a credit bottleneck that has held back Asia's largest economy for decades. Using real-time payments data and a risk-management system that analyzes more than 3,000 variables, Ma's four-year-old MYbank has lent 2 trillion yuan ($290 billion) to nearly 16 million small companies.
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Alibaba faces consumer complaints in Europe

Saturday, May 18, 2019, 8:06 AM

Six European consumer rights associations said Friday they have asked national authorities to look into illegal practices by firms using the AliExpress site of Chinese e-commerce giant Alibaba. The complaints came a day after Alibaba's founder Jack Ma was in Paris for a tech conference, where he wryly suggested Europe should spend more time fixing problems than creating laws and rules.
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Alibaba's Jack Ma is Communist Party member, China state paper reveals

Wednesday, November 28, 2018, 8:09 AM

Jack Ma, the head of e-commerce giant Alibaba Group Holding Ltd and China's best-known capitalist, is a Communist Party member, the official Party newspaper said on Monday, debunking a public assumption the billionaire was politically unattached. The People's Daily revealed Ma's Party membership in a list of 100 people it said had helped drive the country "reform and opening up" process.

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