Alibaba's Ma says concerns about China consumption overdone

Reuters News
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Posted: Oct 08, 2015 9:09 AM

(Reuters) - Alibaba Group Holding Ltd Chairman Jack Ma said he doesn't think consumption will decline in China as the economy slows, terming such concerns an "overreaction."

"We predict that over 50 percent of China's consumption will be conducted online within 10 years, and that means massive potential for the e-commerce market," Ma said in a letter to shareholders. (http://bit.ly/1LnRAqt)

(Reporting by Kshitiz Goliya in Bengaluru; Editing by Saumyadeb Chakrabarty)