Jack Ma denies rumor of assets transfer

2018-09-21 02:50:59 GMT2018-09-21 10:50:59(Beijing Time) Sina English

(ECNS) - Jack Ma, chairman of Chinese e-tech giant Alibaba, has denied a rumor that he transferred assets worth 120 billion yuan ($17.5 billion) overseas.

“We need to learn to survive in the sea of rumors despite our awkward swimming moves. It is exhausting to deal with them every day, and sometimes an explanation just makes bad things worse,” said Ma at the World Economic Forum in Tianjin.

Ma, who has announced his stepping down as Alibaba chairman in a year, also said he made this decision three years ago.

As a former English teacher, he has been lucky to lead Alibaba to its success today he said.

“Luck is not forever, and the best way to continue your streak is to give others a little more opportunity. Giving young people a little more opportunity is to give yourself a little more opportunity.”

Ma added his goals for the future lies in education, environmental protection, and entrepreneurship.

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