The partner system wants to establish and perfect a set of cultural guarantee mechanism

In a week that was considered decisive, Tsai, the founder and vice chairman of Alibaba, in an open letter, on behalf of Alibaba's official, stressed that the partnership system is a desire to establish and improve a cultural security mechanism that will allow the company to develop in a sustainable and healthy way, rather than "controlling the company with the setting of

It has been reported recently that Alibaba may abandon its plans to list in Hong Kong because the "partner system" mentioned by Alibaba threatens the "one-vote" principle advocated by Hong Kong regulators and is not recognised by financial regulators in Hong Kong. In that case, Tsai in an open letter that this is not true. "We do not want to challenge the HKEx and we have never considered a dual shareholding structure (dualclass) scheme," he stressed. The partner system protects the shareholder's important rights and interests, including the right to elect independent directors, the voting rights of major transactions and related party transactions. ”

In fact, Alibaba has just won the endorsement of two important shareholders. September 27, Japan SoftBank Group president son and the United States Yahoo has issued a statement, expressed its full support for the Alibaba Group to adopt "partner management structure." This means that the partner management structure currently adopted by Alibaba Group is also publicly recognized at the major shareholder level.

As for the hotly-traded listings, Tsai said Hong Kong is naturally the preferred option for Ali to be listed as a company with a major business in China. "We do not expect Hong Kong regulators to make a change for a company in Alibaba, but we are confident that Hong Kong should seriously explore an innovative regulatory environment suitable for future trends," he said. is the regulation of Hong Kong's capital markets left behind by the rapidly changing world or should we change the future of Hong Kong's capital markets and innovate quickly? ”