(ECNS) - Jack Ma, executive chairman of Alibaba Group, said Chinese companies need to embrace change brought on by technological advances and deepening globalization.
At the "Belt and Road: Hong Kong - IN" Forum in Hong Kong, he said it’s natural for many to worry about radical change in the world economic system but that only those who welcome it can have a future.
Amid uncertainties regarding the world economy, the only way forward is focusing on solid growth while addressing internal problems, said Ma, adding it’s better to worry about the company itself than external factors.
Ma added China’s Belt and Road initiative is not designed to export excess capacity but a joint search for a more complete development model with a set of trade rules attached. It's mission is to create equal and inclusive global order.
He explained globalization initially meant only bigger countries and companies enjoyed development opportunities because they were better positioned to acquire resources and labor at a low cost. But globalization driven by the Belt and Road initiative means new job opportunities locally and economic prosperity.
Hong Kong can still serve as a launch pad for neighboring countries to engage with the initiative, capitalizing on its finance, commerce and globalization strengths, augmented by human resources, materials and funds from the Chinese mainland.
More than 650 professionals from accounting, insurance and risk management, finance, infrastructure and related construction fields participated in the forum, according to Commerce and Economic Development Bureau.