Alibaba executive chairman Jack Ma met U.S. President-elect Donald Trump on Monday and laid out the Chinese e-commerce giant's new plan to bring 1 million small U.S. businesses onto its platform to sell to Chinese consumers over the next five years.
Ma met with Trump at the Trump Tower for 40 minutes in one of a broader series of meetings with business leaders.
Ma said the two mainly discussed supporting small businesses, especially in the Midwest, such as farmers and small clothing makers, who could tap the Chinese market directly through Alibaba, whose Tmall online shopping platform offers virtual store fronts and payment portals to merchants.
The US Trade Representative last month returned the e-commerce giant to a blacklist of online retailers over concerns that the company was not doing enough to stop counterfeiting on their sites.
During the meeting, Ma discussed the growth momentum of small Chinese firms and the country's new consumption patterns, and noted that China is transforming from a manufacturing country into a consumption country, which offers great opportunity for small and medium-sized enterprises in the US.