No Company Including Alibaba Is “Too Big To Fail “Jack Ma Told Regulators

Jack Ma, Chairman of Alibaba Holding Group, told government of China that the “company is not too big to fail” as he guaranteed the federal regulators that he was addressing corruption allegations on its online e-commerce website.

According to his Beijing speech transcript during CSR commission he said, as Alibaba grows in size it should focus to monitor the behavior of employee. He further said, “Alibaba absolutely isn’t the company that is too big to fail, big companies failed in China like Politburo members, standing members. No company can say it’s too big to fail … that’s rubbish.”

Since the State Administration for Industry & Commerce had issued a White Paper against Alibaba reproving its online mall business of taking bribes, and selling counterfeit, fake products and peddling knock-offs. Alibaba was founded 15 years ago in its chairman Ma’s apartment, faced many mistakes and errors in the country, which was run by communist party.

Jack Ma also said on his visit to CSRC that the China’s state run banks should not fear from the services being offered by Alibaba financial firm Zhejiang Ant Small and Micro Financial Service Group.

Alibaba want honest and trustworthy businessmen to become wealthy, Ma Said as exactly mentioned in the transcript. “Only if we do this, can our company complement the finance industry, and not compete with them”.

Jack Ma elaborated the company goals and objectives to the Chinese government regulators. He talked about Yu’E Bao, an online market fund of its affiliate. He also told regulators about credit scoring system of financial group companies and Zhejiang Ant Small.

Earlier this January, according to Shanghai Securities news, Alibaba Holdings was interested in making an investment in New China Life Insurance Company Ltd., which valued nearly $24 billion. The company is also looking to obtain a stake in Insurance Company by acquiring some shares from New China’s largest shareholder, Central Huijin Investment Ltd.

Alibaba Holdings is also looking for initial public offering (IPO) of its financial firm Zhejiang Ant Small, the owner of Alipay, that is valued at approximately $50 billion.

Alibaba Group Holding share price have fallen 16% in New York stock exchange this year.

Alibaba Holding Group Ltd (NYSE:BABA) stock is down by 1.44%, trading at $86 as of 4:30 pm EST on Thursday, with 30-days average volume of 17.53 million shares. The company has a market capitalization of $215.81 billion and price to earnings ratio of 47.66.