Staying competitive: Founder and Executive Chairman of Alibaba Group Jack Ma. Alibaba-backed YTO Express plans to go public via a 17.5bil yuan (RM10.75bil) merger with a listed clothing maker. — Reuters
BEIJING: Alibaba Group Holding Ltd, whose accounting practices are under investigation by US regulators, is a difficult company for the United States to understand, Executive Chairman Jack Ma said in an interview to Chinese media on June 3.
The US Securities and Exchange Commission (SEC) launched a probe earlier this year into the Chinese e-commerce firm's accounting practices to determine whether they violated federal laws. Questions about Alibaba's growth rate and its relations with affiliated companies have dogged the firm for years.
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