Pony Ma, the low-profile cofounder of Chinese web giant Tencent, said he is “excited and encouraged by” China’s latest pledge to back the private sector, including the government’s support for the internet industry, which until recently faced a multi-year crackdown aimed at reining in the market influence of its biggest titans.
Ma is the country’s third-richest person, with a net worth of $35.7 billion on Thursday, according to Forbes real-time billionaires list. He wrote the comments for state-owned broadcaster CCTV. The billionaire rarely expresses views publicly, but published the article one day after Beijing vowed to improve conditions for private businesses.
The mogul said the government’s latest statements have stabilized expectations for future development, especially at a time when some private companies have encountered rising challenges due to the pandemic as well as changing domestic and international conditions. He added that under guidance from the government, internet platform companies would work to boost consumption and explore new opportunities brought by technological advances in artificial intelligence.
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