Alibaba dating services
Furthermore, the Ethiopian delegation led by the Ministry of Information Technology Getachew Mekuria arrived at the headquarters of Alibaba in Hangzhou today for a tailored training designed for Ethiopian officials as agreed with prime minister Abiy during his visit in April.
By John Jannarone Government regulations have required many Chinese technology companies to adopt a unique legal structure when listing shares in the U.
Corp Gov: Can you take us a bit deeper into the Alibaba Partnership.
What does it mean for your business and other shareholders? Lin: Alibaba prides itself on its peerless corporate governance and oversight structure.
Why is this structure in place and what should investors know about it? Lin: Alibaba Group Holding Limited is a Cayman Islands holding company, and we conduct our business in China through our subsidiaries and variable interest entities.
Due to China’s legal restrictions on foreign ownership and investment in, among other areas, value-added telecommunications services, which include Internet content providers, or ICPs, we operate our Internet businesses and other businesses in which foreign investment is restricted or prohibited in China through wholly-foreign- owned enterprises, majority-owned entities and variable interest entities.
The relevant variable interest entities, which are 100%-owned by Chinese citizens or by Chinese entities owned by Chinese citizens, hold the ICP licenses and other regulated licenses and operate our Internet businesses and other businesses in which foreign investment is restricted or prohibited.
Because Alibaba Group Holding Limited is able to exercise effective control over the variable interest entities through contractual arrangements, the results of these entities are consolidated into our financial statements under U. Generally Accepted Accounting Principles and are treated as if they were our wholly owned subsidiaries.
He is now one of China’s richest men with a net worth of .6bn.
He also said that Ethiopia is a strategic partner and promised to make a visit this year.
Jack Ma, 54, is co-founder and executive chair of Alibaba, a multinational conglomerate company which focuses on e-commerce, Internet, retail, and technology.
The arrival of The chairman of the world’s largest e-commerce and retailer company, in Ethiopia considered as an excellent opportunity for the Ethiopian technology sector.
“This is a big opportunity for some of the Tech startups in Ethiopia to showcase their products and get a significant boost,” commented a person in Ethiopia who works on technology services.In an exclusive, wide-ranging interview with Corp Gov, Alibaba Investor Relations Head Rob Lin explains how the company recently refreshed its governance structure to reduce reliance on a small number individuals and also depends on stewardship by the Alibaba Partnership, a diverse group that currently consists of 36 people.