Alibaba antitrust probe: CEO affirms commitment to regulated development after on-site investigation

Company ‘is a participant and beneficiary of the development of the internet industry and we are particularly grateful for this’, Daniel Zhang Yong tells political party conference

‘We firmly believe that regulated development is the future, and only with self-discipline can an industry prosper,’ he says

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Daniel Zhang Yong is chief executive officer and chairman of Alibaba Group. Photo: Winson Wong

Published: 12:52pm, 26 Dec 2020Updated: 11:23pm, 26 Dec 2020

Daniel Zhang Yong, CEO of Alibaba Group Holding, affirmed the e-commerce giant’s commitment to “regulated development” at a Zhejiang provincial party committee conference on local economies on Friday.

As a platform company, Alibaba should put forward “higher requirements” for itself and contribute to the development of society and economy, according to state-run China National Radio.

“Alibaba is a participant and beneficiary of the development of the internet industry [in China] and we are particularly grateful for this,” Zhang said.

“We firmly believe that regulated development is the future, and only with self-discipline can an industry prosper. It is a vigorous and orderly regulatory system and platform economy ecosystem that can benefit all stakeholders.”

At the same conference, the provincial government broke its silence on the investigation.

“A single flower does not make a spring,” Yuan Jiajun, Zhejiang’s provincial party secretary said.

“We need to serve and support the innovation and development of platform enterprises and explore monopoly boundaries to promote enterprises to operate in accordance with laws and regulations.”