Alibaba chief calls new Chinese competition rules 'necessary'
Daniel Zhang strikes supportive tone following collapse of Ant Group IPO plan
Participation by Alibaba and Ant in the World Internet Conference in Wuzhen, China, comes amid a public consultation on plans for new restrictions on internet companies’ anti-competitive practices. (Photo by CK Tan)
WUZHEN, China -- China's move to develop rules to restrict internet companies' anti-competitive practices are "timely and necessary," according to Daniel Zhang, chairman and chief executive of e-commerce leader Alibaba Group Holding.
Speaking on Monday at China's annual government-sponsored World Internet Conference in the eastern city of Wuzhen, Zhang said the emergence of Chinese internet companies onto the global stage was made possible by Beijing's market reforms and development policies.