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Jack Ma’s New Chieftain Lays Out Plan to Fend Off Tencent

  • Hu wants to make 80% revenue from platform technology services
  • Ant elevates local services importance, expands beyond finance
Jack Ma

Jack Ma

Photographer: Marlene Awaad/Bloomberg
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Billionaire Jack Ma’s newest chieftain is accelerating Alipay’s evolution into an online mall for everything from loans and travel services to food delivery, in a bid to claw back shoppers lost to Tencent Holdings Ltd.