Monday April 22, 2019
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To Pursue Philanthropy, Alibaba’s Chief Executive Jack Ma Steps Down

Ma is retiring as at a time when the China is embroiled in an escalating trade war with the US and the Chinese economy is facing slowing growth and increasing debt.

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Alibaba Cloud
The logo is displayed at the New York Stock Exchange, in New York. VOA

In a surprising move, China’s richest man, Jack Ma, has revealed plans to step down as the Executive Chairman of e-commerce giant Alibaba on Monday to pursue philanthropy in education, paving the way for a change of guard for the $420 billion Internet company that he co-founded.

Ma will turn 54 on Monday, which is also a holiday in China and known as Teacher’s Day.

In an exclusive New York Times interview, the Chinese billionaire said on Friday that his retirement was not the end of an era but “the beginning of an era”.

“I love education,” the Chinese billionaire said, adding that he would be spending more of his time and fortune focused on education.

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A former English teacher, Ma co-founded Alibaba with 17 others out of his apartment in Hangzhou, Zhejiang province, in 1999.

He built it into one of the world’s most consequential e-commerce and digital payments companies, transforming how Chinese people shop and pay for things which fuelled his net worth to more than $40 billion, making him China’s richest man.

Ma is revered by many Chinese, some of whom have put his portrait in their homes to worship in the same way that they worship the God of Wealth.

Ma will remain on Alibaba’s board of directors and continue to mentor the company’s management.

The retirement makes Ma one of the first founders among a generation of prominent Chinese Internet entrepreneurs to step down from their companies.

alibaba
Visitors walk past a giant display at the Alibaba Group headquarters in Hangzhou, in eastern China’s Zhejiang province, May 27, 2016. VOA

Firms including Alibaba, Tencent, Baidu and JD.com have flourished in recent years, growing to nearly rival American Internet behemoths like Amazon and Google in their size, scope and ambition.

Last month, Alibaba reported a 60 per cent increase in quarterly sales, even as profits fell.

The company’s annual revenue totals about 250 billion yuan ($40 billion).

Alibaba has also changed the way people work in China. Millions of people now run their own shops selling goods on its Taobao ecommerce platform or stream their own videos on its entertainment platforms, The Financial Times reported.

Taobao is estimated to have created almost 37m jobs in China, according to a study last year by Renmin University’s School of Labour and Human Resources, the report added.

For Chinese tycoons to step aside in their 50s is rare; they usually remain at the top of their organisations for many years.

Alibaba
Ma is revered by many Chinese, some of whom have put his portrait in their homes to worship in the same way that they worship the God of Wealth. Flickr

In an interview earlier this week, Ma had signaled that he was thinking about focusing more on philanthropy. He cited the Microsoft co-founder and philanthropist Bill Gates as an example.

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Ma is retiring as at a time when the China is embroiled in an escalating trade war with the US and the Chinese economy is facing slowing growth and increasing debt, The New York Times report said. (IANS)

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‘Big Steps To Reduce Carbon Emission’ Apple Expects Cooperation With China on Clean Energy

It's right for the Chinese government to remain "vigilant about making sure material really doesn't end up being dumped"

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recycling robot
In response to a question over whether Apple is planning to deploy the Daisy robot system in Asia, especially in China, Jackson said Apple is looking at unique recycling solutions in China "because we have manufacturers there". Pixabay

Apple is expecting more cooperation with China on clean energy as it released its 2019 Environment Report that outlines its climate change solutions ahead of Earth Day, which falls on April 22.

In the “Environmental Responsibility Report”, Apple has set an ambitious goal to “make products without taking from the Earth” and vowed to adopt “big steps” to reduce emissions of carbon dioxide from its business operations.

Apple said 44 of its suppliers have committed to 100 per cent renewable energy for their production of Apple products, Yonhap news agency reported late on Thursday.

Apple
Apple announced that it will quadruple the number of outlets in the US to recycle used iPhones returned by US customers, which will be disassembled by its recycling robot, Daisy.
Pixabay

Among them, “the majority of clean supply chain, clean energy suppliers are in China in terms of both attaining the clean energy goal and cooperation in the use of safer materials and smarter chemistry”, Lisa Jackson, Apple’s vice president of Environment, Policy and Social Initiatives, said at a recent event promoting the company’s environment initiative.

As one of Apple’s biggest manufacturers and markets in the world, China is critical to success in all of Apple’s environmental initiatives, she said.

“I think it’s important to know Chinese manufacturers can be partners in the innovation because the Chinese manufacturers have real expertise and applications which they can bring to the table,” she added.

In order to promote circular economy, Jackson said Apple is working with a number of partners including the China Association of Circular Economy to enable the movement of materials in a way that not only “protects the environment, protects innovation, but also moves us forward in reusing materials”.

Apple announced that it will quadruple the number of outlets in the US to recycle used iPhones returned by US customers, which will be disassembled by its recycling robot, Daisy.

Daisy can disassemble 15 different iPhone models at the rate of 200 per hour, according to Apple.

Apple
In the “Environmental Responsibility Report”, Apple has set an ambitious goal to “make products without taking from the Earth” and vowed to adopt “big steps” to reduce emissions of carbon dioxide from its business operations. Pixabay

In response to a question over whether Apple is planning to deploy the Daisy robot system in Asia, especially in China, Jackson said Apple is looking at unique recycling solutions in China “because we have manufacturers there”.

“We need to do a lot more work in China. We need to work really closely with governments to move materials around,” she said.

“I would expect that we’re going to have some unique recycling solutions for China, and that would be great,” Jackson added.

Also Read: Researchers Develop, New Adhesive Patch That Can Minimize Heart Attack Damage
It’s right for the Chinese government to remain “vigilant about making sure material really doesn’t end up being dumped”, said Jackson.

“We don’t ever want that to happen with any of our products. So we have to continue to work to find a way that allows us to move forward and is respectful,” she noted. (IANS)