Jack Ma hails prospect of technology in Asia

Jack Ma, founder of China's e-commerce giant Alibaba, hailed the prospect of technology and internet in Asia on Wednesday, saying China and companies like Alibaba will take up the responsibility and opportunities to share its technology with the neighbors.

Despite a late comer to the internet and information technology, governments and entrepreneurs in Asia are showing greater interest in the area, he told audience via video call during South China Morning Post's China Conference held in the Malaysia's capital Kuala Lumpur.

"Today I think the big advantage of Asia is the confidence of technology and confidence of the internet," he said.

Jack Ma, founder of China's e-commerce giant Alibaba, speaks to audience via video call during the China Conference organized by South China Morning Post in the Malaysia's capital Kuala Lumpur, Oct. 10, 2018. The conference brought together business, academic and political leaders to discuss cooperation between China and Southeast Asia on politics, economy, technology and how to tap opportunities of the Belt and Road Initiative, among others. [Photo: Xinhua/Zhu Wei]

Ma cited Malaysia's embrace of Electronic World Trade Platform (eWTP), which was proposed by him, to promote trade and small business, as well as similar examples in countries like Thailand, Indonesia, India and Pakistan.

"All these things show that Asian countries are embracing the technology more aggressively," he said, while pointing out that people in the West are more concerned about technology, focusing more on regulation.

"Internet was developed in America but I'm sure it will develop much more quickly in Asia," he said.

The Alibaba founder also said the technology developed by Chinese companies like Alibaba could be shared with countries like Malaysia.

"In the past 20 years in China, companies like Tencent, Baidu, Alibaba grow because they solve problems, using the internet, embracing the technology for changing," he said.

"I think Asian countries entrepreneurs should work together to solve their problems locally and to use the technology, to be more open, more innovative to solve problems like property, to improve inclusiveness."

The conference, organized by the South China Morning Post based in China's Hong Kong Special Administrative Region, brings together business, academic and political leaders to discuss China's cooperation with Southeast Asia on politics, economy, technology and how to tap opportunities of the Belt and Road Initiative, among others.