Jack Ma, the Founder of Alibaba, urges small businesses to sell to China's growing middle class, using the company's platforms. Bobbi Rebell reports.
Alibaba founder, Jack Ma, wants to bring U.S. small businesses owners on board. He wants them to sell to the emerging Chinese middle class using his company's marketplaces. He made his case in a speech at the Economic Club of New York: SOUNDBITE: JACK MA, FOUNDER AND EXECUTIVE CHAIRMAN, ALIBABA (ENGLISH) SAYING: "My purpose coming here is that we need more American products to China. We have hungry 100 million people coming to buy every day, so this is why we come here. We do not come here to compete. We come here to bring the small business." Ma urged U.S. small businesses to be patient. He said larger companies, like Microsoft, and IBM, have been in China for a long time, and are now seeing results. SOUNDBITE: JACK MA, FOUNDER AND EXECUTIVE CHAIRMAN, ALIBABA (ENGLISH) SAYING: "If we globalize our infrastructure, the payment, the logistics center, the transparent platform all around the world, help the small business around the world to sell everywhere, help the global consumers to buy everywhere. Our vision is in ten years, we will help two billion consumers in the world to shop online. Anywhere in the world you're shopping online, within 72 hours you receive the products." Ma was asked about concerns over counterfeit goods sold on the Alibaba websites. He said, he's been working with authorities to try to stop them, closing more than 10,000 stores a week at one time, and putting more than 2,000 people to work full time against counterfeit products. He described some of the aggressive tactics used by criminals. SOUNDBITE: JACK MA, FOUNDER AND EXECUTIVE CHAIRMAN, ALIBABA (ENGLISH) SAYING: "When we launched the campaign, over 3,000 people came to our office, demonstrate and take the gasoline to our company, say if, because they are so powerful. It's the war against the criminals, the bad guys. They said anybody go to Alibaba to demonstrate, they will pay the air ticket fare, they pay for hotel rooms, and they pay for every day time 100 renminbi per hour and even 200 renminbi for an hour, if you go to Alibaba, against, because they are the fake product owners. And I was so angry, and I wrote a letter to my employees, and to those guys, that I would shut down the company tomorrow, if we say sorry to them." Ma said, now for every 100,000 transactions, only a little more than a handful involve counterfeit goods. He vowed to continue the fight.