Ma Yun Thought He Should Worry More About His Country.

Ma Yun, chairman of the board of directors of Alibaba, China's largest electricity supplier, believes that Americans are too worried about China. They should not be so worried. They should worry more about their country.

It is believed that the Chinese government has been helping to promote economic growth in recent years, but the driving force of the consumption driven economy may come from entrepreneurs.

Now is the time for the private sector to exert its strength.

This is an opportunity to explore real consumption.

During the annual meeting of the "Clinton Global Initiative" (CGI) founded by former US President Clinton, Ma Yun said that even if there was a heated domestic economic downturn, China also had a special feature that the United States did not have: the Chinese economy could tide over the difficulties.

Americans worry too much about China's economy. "Only when China's expectations are too high, will China become a problem."

Ma Yun believes that the consumption concept of China and the United States is different, and Chinese consumers are also the largest depositors in the world. Even if the economic environment is bad, there are also funds for consumption.

According to the World Bank statistics, China's national savings account for 50% of GDP in 2013, while the United States accounts for only 18%, which is lower than those in Columbia and Namibia.

CNBC quoted Ma Yun as saying:

"Some people say," because China's economy is getting worse, consumption will decrease.

That's not the case.

You Americans like to spend tomorrow's money today. People in other countries may not.

We Chinese love saving money.

"After many years of poverty, we earn money.

Because if one day we know that a disaster is coming, we can still spend money...

You Americans may not be able to do that. You should be worried. "

Some observers worry about China.

The negative impact of the period, such as the decline in exports, may lead to a soft landing.

Ma Yun is more partial to the positive impact of pformation, saying that the export driven economy causes environmental pollution, and the environment will gradually improve after turning to import.

Ma Yun is one of the 15 Chinese entrepreneurs who have been accompanied by China's president Xi Jinping this week. In addition to Ma Yun, there are also general managers of Wanxiang Group, Tencent, Lenovo Group, Shuanghui group, Yili Group, Baidu, Haier group, Bank of China, industrial and Commercial Bank of China, COSCO Group, China Construction, new Austrian energy, Yu Huang chemical industry and Tianjin steel pipe group.

In addition to Yu Huang chemical and Tianjin steel pipe, the remaining 13 are publicly listed companies, including Ali and Baidu listed in the United States, Tencent, Lenovo, new Austrian Energy listed in Hongkong, business, Bank of China, Shuanghui development and other A shares listed.

In the 15 enterprises, ICBC and China bank's profit margins were 42% and 37% respectively. The profitability of Internet companies was much higher than that of other industries other than finance. The highest net profit of Ali in BAT reached 45%, while the lowest in Baidu was 21%.