BABA Strongly Protests Narrative & Inference of NYT's Report

The New York Times alleged earlier in a report that BABA founder Jack Ma has investment ties with businessman Xiao Jianhua.

BABA responded to the report in a statement on website, arguing that the New York Times has made false and unsubstantiated insinuations about the group and its companies based on documents of dubious legality. The article contradicted facts contained in public documents and company records.

BABA questioned the credibility of the sources and the veracity of the information of the newspaper, strongly objected to the statements and inferences made in the article, and vowed to do its utmost to defend its reputation.