How do you defeat the country's No 1 e-commerce firm? It may not require any innovation in technology, just a piece of paper, says Jack Ma Yun, the founder and chairman of Alibaba.
As the central government steps up its efforts to crack down on the red-hot online finance sector - led by Alibaba and its rival Tencent - Ma could not remain silent any longer.
In response to a question about the obstacles his firm - which confirmed on Sunday its plan to list in New York - is facing, Ma said at a technology forum in Beijing on Tuesday: "Sometimes, what can beat you is not technology, but just a document."
He did not elaborate but most market watchers and industry players believe his comment was related to the central bank's crackdown on internet finance.
Beijing is increasingly concerned over the supervision of the new online financial services, which may change the landscape of traditional banking services.
Ma's complaint about a potential setback to his business came a few days after the People's Bank of China issued two drafts for consultation aimed at limiting online shopping and money transfers for online payment service providers.