Huge opportunities in current adversity, says Jack Ma in final shareholder letter as Alibaba executive chairman

Jack Ma, Alibaba Group Holding’s executive chairman, in his final letter to shareholders before stepping down next year, said that the company will find opportunities amid the current “turbulence and instability” of the US-China trade war as the online giant is always planning for the future.

The letter comes less than two months after Ma announced that he would hand over the reins to chief executive Daniel Zhang Yong.

Ma said in the letter dated Tuesday that the current US-China trade war is the third time in its 19-year history that the company has encountered a “setback in the global economy”, but reiterated that behind such challenging times are “huge opportunities”.

“The only question is how we should pivot. Monumental challenges give rise to monumental opportunities, and Alibaba is well-positioned because we are adept at weathering adversity,” he said.

“We strongly believe that if we innovate to solve problems and create real value in the process, market opportunity and profitability will not escape us.”