Founder of Alibaba Group says Macau will become a “smart city”

7 June 2016

The founder and CEO of Chinese e-commerce group Alibaba said he was confident in the development of Macau as a “smart city”, in a speech Monday at the University of Macau.

Jack Ma Yun, speaking in a session organised by the Zhejiang Chamber of Commerce, chaired by himself, said that the great opportunity for Macau lies in its small and medium enterprises as well as its relationship with Portuguese-speaking countries.

Ma said that the city should create a new type of financial system via the Internet, rather than building upon the existing bases and said he had discussed this idea with the Secretary for Economy and Finance, Lionel Leong Vai Tac.

Jack Ma Yun, after saying he predicts major changes in the global financial system over the next 30 years, mentioned as positive factors that Macau and Hong Kong are open societies and available to accept new ideas from the outside.

A statement from the office of the Macau chief executive, Fernando Chui Sai On, released Monday said, meanwhile, that Jack Ma Yun had accepted the Macau government’s invitation to be a consultant to the Council for Economic Development and the Council of Science and Technology. (macauhub/MO)