Jack Ma Hopes Chinese Women Can Pursue Career Dreams

September 26, 2014
Editor: Arnold Hou

Jack Ma, founder of the Alibaba Group, said that he hopes Chinese women pursue their own dreams of career development at the Clinton Global Initiative's 10th annual meeting in New York on September 23.

"I admire Chinese women because a large number of them are both responsible mothers and successful entrepreneurs," said Ma, adding that Chinese women have become superwomen, many of whom depend on Alibaba's entrepreneurship platform.

Ma suggested that women entrepreneurs should do things which offer them happiness and that they start their businesses because they really have love in their heart, want to experience and feel, instead of only pursuing money. "You will become happier and happier if you love your career and stick to it," said Ma.

Data shows that female shop owners account for 55 percent of online stalls on Taobao.com and Tmall.com, Alibaba's two online shopping websites, and they have advantages in selling female clothing and cosmetics. For example, the number of female shop owners selling female clothing on Taobao.com has exceeded 1 million, which is 0.2 million more than their male counterparts. In addition, the rate of receiving good reputation among female shop owners is slightly higher than that of their male counterparts.

Data also shows that female shop owners are more qualified and cautious than men, which leads to the fact that they find it easier to get small loans online. In addition, they pay their loans more timely. Statistics show that the percentage of nonperforming loans among female clients is 0.52 percent, 23 percent lower than for males.

According to the prospectus of Alibaba's initial public offering (IPO), female employees account for 40 percent of Alibaba's staff, and nine out of the 30 co-founders of the company are females, accounting for nearly 30 percent, including Chief Talent Officer Peng Lei, CFO Wu Wei and Director of the Integrity Department Jiang Fang. The percentage is far higher than any other Internet companies in China as well as around the world. In addition, five out of the eight ringers of Alibaba's IPO opening bell on the New York Stock Exchange were females.

Founded in 1999 in east China's Zhejiang Province, Alibaba Group, which has become an e-commerce giant, rang the opening bell at the New York Stock Exchange on September 19, marking its IPO on Wall Street.

Ma just became the richest man in China thanks to his company's record-breaking IPO on the New York Stock Exchange.

(Source: The Beijing News/Translated by Women of China)

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