Sina Technology News On the evening of June 1, Alibaba Group Chairman Cai Chongxin recently had a conversation with Kam Shing Kwang, Chairman of the American Investment Bank J.P. Morgan Chase North Asia and Vice Chairman of Investment Banking Business in Greater China.
During the conversation, Cai Chongxin said that the first thing Ali's shareholders should look forward to is management's extreme focus on core business and how to create greater value for customers.
“For example, at a strategic level, we have clearly placed users at the center of our e-commerce business. Alibaba is always thinking, who are our customers — sellers or actual product buyers? We chose users because their spending would directly translate into business volume, which would benefit the merchant. They are the real driving force behind the use of internet technology to complete purchases. So, users come first. As a result, shareholders can expect our management to focus on key issues and clear strategic direction. We know what matters are important and which are less important, so we won't waste resources on unnecessary matters. We currently include a number of non-core businesses in our portfolio that are not our core focus, so we are working to find the right exit strategies.” Cai Chongxin said.
Looking ahead, Cai Chongxin said that Ali will continue to invest in some non-core businesses, but will manage these investments more carefully. “We already sold some of our non-core financial assets in the last quarter and announced a special dividend based on the proceeds of those sales. To manage these matters more efficiently, we've set up dedicated teams to ensure they don't distract our operations management team from the main focus.” Cai Chongxin said.