Business / Latest News

Alibaba's Jack Ma makes his own G20 proposal

( Updated: 2016-08-30 15:25

Chinese e-commerce companies are expressing concerns about a perceived trend toward anti-globalization ahead of this year's G20 Summit in Hangzhou.

Alibaba founder Jack Ma is among those publically concerned about the trend e-commerce firms say they've been seeing in recent months.

"People don't like globalization, not because globalization is bad. If globalization can really benefit everybody, enable every individual, enable small business, and that would be a great stuff. So we've given our proposal."

Hangzhou-based Alibaba is among those who have been pushing for an electronic World Trade Platform, or e-WTP.

The idea would be to let small businesses to trade globally through e-commerce.

The concept itself has been compared to an online version of the World Trade Organization, as it would share similar goals of promoting global trade and fighting protectionism.

However, Jack Ma says there would be differences between an e- World Trade Platform and the WTO.

"Organization is like a treaty or an agreement agreed by the government, so rules and laws. For platform, we should set up another very feasible way for small business to do it."

At the same time, other leading Chinese business figures are also calling on G20 leaders for policy changes to address global trade.

Ning Gaoning is the Sinochem Group, a Chinese energy and chemicals conglomerate.

"We need to reduce all these protectionism measures, rolling back the old ones, and reducing all these kinds of small, regional trading agreement, which turn out to be complicated."

Ning Gaoning says corporate leaders are hoping to see the G20 focus on eliminating protectionist measures during next week's sessions.

Hot Topics

Editor's Picks