Jack Ma's mission? To help small UK firms

Mr Ma said: “We’re coming here to help small businesses in the UK to sell to China… When we help small businesses we believe we’re helping dreams.”

Alibaba founder Jack Ma (Getty)

Jack Ma, the multi-billionaire chief executive of the internet leviathan Alibaba, yesterday declared that it is his mission to help small British firms export more to China.

Speaking at the UK-China Business Summit at the City of London’s Mansion House, Mr Ma said: “We’re coming here to help small businesses in the UK to sell to China… When we help small businesses we believe we’re helping dreams.”

One of the New York listed Alibaba’s many functions is serving as an online market place where domestic Chinese firms can connect with foreign exporters.

Mr Ma, who was named earlier this week as a member of David Cameron’s Business Advisory Group, said China would have an additional half a billion middle-class people within the next five to 10 years, which would make it a major importer of Western goods. He dismissed concerns about slowing growth: “Even if [we have] 5 per cent growth China’s still one of the fastest growing economies in the world.”

In the third quarter of 2015 Chinese GDP grew at an annual pace of 6.9 per cent, the lowest since 2009.