The head and co-founder of e-commerce giant Alibaba has been confirmed as a communist party member by Chinese state-backed newspaper The People’s Daily. Billionaire Jack Ma, 54, was previously believed to have no political connections, but the newspaper referred to Mr Ma as a CPC member as it announced plans to honour 100 people for contributions toward the country’s development as part of a celebration marking 40 years since the country’s economic reform.
“Under his leadership, Alibaba ranks among the top 10 global companies in terms of market value, making China a leading player in the international e-commerce industry, internet finance and cloud computing, spawning a large number of entrepreneurs and start-ups,” the newspaper said.