Jack Ma to Show U.S. Art of Sales to China: Eye on Chinese Media

Jack Ma, founder of Alibaba Group Holding Ltd., is acting to fulfill a JOB CREATION promise he made to President Donald Trump earlier this year, China Daily reported. Ma will host a conference in Detroit on June 20-21 to teach American firms how to sell products to hundreds of millions of Chinese customers on the world’s biggest e-commerce site. More than 1,000 U.S. businesses are expected to join the fair, the report said, citing a company statement. THE CONTEXT: Ma told Trump when the two met in January he can help get 1 million small- and medium-sized U.S. businesses enrolled on his online platforms to sell products to China, and create 1 million jobs in the U.S.

In Other Reports:

  • FINANCIAL SECURITY: China must pay attention to financial security, because the nation is halfway through restructuring, and other countries’ monetary and fiscal policies can spill over to China, Xinhua New Agency said in an article. Failing to fend off financial risks will affect the overall economy and society, it said. THE CONTEXT: Politburo leaders stressed the importance of financial security at a meeting Tuesday. The meeting decided to conduct a comprehensive check on financial markets.
  • LABOR DIVIDEND: China is embracing a new kind of labor dividend in spite of the aging population and rising labor costs, a commentary in the Communist Party’s flagship newspaper People’s Daily said. The so-called new dividend will come from the growing quality of the labor force, extension of working years, and an improving structure of the labor market, it said.
  • HOLIDAY TRIP: More Chinese travelers plan domestic trips over the upcoming three-day weekend for the Labor Day holiday May 1, China Youth Daily reported. Hotel bookings have surged for the period to the highest in two years.

— With assistance by Yinan Zhao

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