Posted 06/09/2015 at 8:47 AM
Posted 2 years ago
The chairman of China’s premier retail giant is back in the United States, and he’s looking to enter into business with a few American companies.
Jack Ma arrived in New York City on Monday, which is the first of two stops on his business itinerary.
He orchestrated a dinner with the heads of select global brands later that evening.
Ma will also partake in lunch with members of the Economic Club on Tuesday.
His goal is to get more revenue from outside of China – currently that comprises four percent of sales for the e-commerce site and Ma’s wish is to raise that number to 50 percent.
The vice president of international corporate affairs for Alibaba, Jennifer Kuperman summed it up: “Alibaba’s international ambition is to help Chinese consumers get the American products they want, and in turn, create jobs and increase exports to China from the United States.”
The company has begun a series of trial programs on their TMall.com site that sold American goods such as Ben & Jerry’s ice cream, which so far have proven successful.
China’s economy is booming, with a cross-border purchase total of $20 billion last year.
Reports expect that number to at least double in the next five years.
Ma will also travel to Chicago, Illinois for a town-hall styled meeting with 300 business owners including the CEO of American Express, Ken Chenault on Wednesday and meet with the city’s mayor, Rahm Emanuel.