Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

LATEST
Suning.com Predicts Over $20 Million in Losses in First Half of 2020, Says Carrefour China Remains Profitable
Online Travel Leader Trip.com to Issue $500 Million in Convertible Bonds
Trending in China: Was the Driver Who Deliberately Crashed His Bus Killing 21 Evil or a Victim? Netizens Discuss
Foxconn Plans to Invest $1 Billion to Expand iPhone Production at Indian Factory: Reuters
Money-Losing Electric Carmaker Li Auto Files for U.S. IPO
Platform Serving China’s Takeout Delivery Workers Jumps 28% in Nasdaq Debut
SenseTime Builds AI Computing Platform in Shanghai Amid ‘New Infrastructure’ Push
WeRide to Test Fully Autonomous Vehicles in Guangzhou
Trending in China: Why Are Chinese Netizens Saying Kanye West Could be ‘China’s First’ U.S. President?
Trending in China: Will Weibo’s Fight Against Porn Have Other Unintended Side Effects
Tencent Leads $40 Million Investment in Online Art Educator
Alibaba Aims to Facilitate $1.4 Trillion in Sales Annually By 2024
Trending in China: Death of Giant Panda Cubs Sparks Concerns About Treatment of ‘National Treasure’
China CFO of Indian Oyo Quits to ‘Pursue Other Professional Opportunities’
Sequoia Capital Opens Its First Tech Incubation Center in Shanghai
Some 266 Foreign-Invested Firms Approved to Offer Telecom Services in China in First Half of 2020
Trending in China: Should Internet Celebrities Be Part of the School Curriculum?
Sequoia China Leads Nearly $100m Round in Storytelling App Kuaidian
Medical Robot Maker Finds Elixir in STAR Board’s Market Reforms
Trending in China: Outrage Ensues as Updated U.S. Student Visa Policies Force International Students into a Dilemma
Jack Ma: Europe Is Too Concerned With Privacy

By Qu Yunxu and Zhao Runhua / Jan 24, 2019 12:09 PM / Business & Tech

Photo: VCG

Photo: VCG

Alibaba prefers Africa over Europe, as the latter is “too anxious” about data and privacy protections, the company’s founder Jack Ma said Wednesday at the World Economic Forum in Davos.

Ma is one of China’s richest men, and Alibaba one of its most valuable companies. Much of the firm’s core business — e-commerce and digital payments — involves exploitation of user data, so its unsurprising Ma fancies such concerns as minor compared to the benefits companies can deliver to customers who surrender their information.

“Unless you truly understand technology, [excessive supervision of companies] will make everything very hard,” Ma added.

Last year the EU implemented sweeping data-protection regulations that stipulate steep penalties for privacy violations.

Thus, Alibaba is less interested in Europe, Ma said, as Africa “believes in technology.”

Ma also said that within three to five years, 500 African entrepreneurs will receive Alibaba-backed training in China.

Related: Jack Ma-Mania Borders on Religious Fervor

Support independent journalism from China. Subscribe to Caixin Global starting at $0.99.

Share this article
Open WeChat and scan the QR code