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Economy

The headline quotes from Davos 2019(3)

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2019-01-27 09:15:42chinadaily.com.cn Editor : Jing Yuxin ECNS App Download

Jack Ma, co-founder and chairman of Alibaba 

Ma said he wants to reform globalization by bringing e-commerce to everyone in the developing world.

"Globalization, in the past 30 or 40 years, helped a lot of countries to grow, especially countries like China, Ma said. "But many people don't believe in it because it is not inclusive. How can we improve it? We can make more developing countries get involved," he added.

Ma said globalization has been controlled by 60,000 big companies worldwide in the past 20 years, and he wants to expand that to 60 million businesses in the next 30 years, including small enterprises.

"Businesses themselves should make decisions in the next 30 years, with governments as a support," Ma said, adding that Alibaba cannot do it alone.

Michael Moller, director-general of the UN Geneva office 

Moller hailed China's role in supporting multilateralism, saying China can take the lead in addressing global challenges ranging from climate change to possible misuse of new technologies.

Moller was impressed with China's development, saying he thinks the country can share its best practices with others. Praising China's policies supporting multilateralism and free trade, he said there is a "good, continuous and strong" relationship between the UN Office at Geneva and China.

"The world today has never been better. In the whole history of mankind, a big part of the reason for that is multilateralism works," he noted, calling on countries to bring back multilateralism to what it is and should be.

Fang Xinghai, vice-chairman of the China Securities Regulatory Commission 

China will not in any way significantly reduce its investment into the US bond market, said senior securities regulator Fang Xinghai.

Contributing to panel discussion Rethinking Global Financial Risk, Fang said China will continue to be a savings surplus country for some time.

"We have to invest abroad, and the US government bond market turns out to be a good place to invest," Fang said.

Fang also said that as China continues its opening-up, overseas enterprises in a range of industries are welcome.

Axel A Weber, chairman of Swiss bank UBS 

Weber said that most global growth is "generated by China being included in the world economy".

"The more we can connect stock markets, the more we can bring international investors into the Chinese economy," he said.

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