Banner on the New York Stock Exchange as the e commerce company Alibaba records record Single's Day sales in New York City on November 11, 2015. Photo: iStock

Jack Ma, the founder and chairman of Alibaba, and Yong Zhang, CEO of the group, have both sent a letter to investors to elaborate the company’s mission, boundary and future direction, reported.

Ma thinks Alibaba must contribute to the sustainable development of the world economy, which means the company will keep expanding in a wider range of social areas.

“By 2036, we expect to become the fifth biggest economy in the world, offering 100 million job opportunities, serving 2 billion consumers and being the profitable platforms for 10 million small and medium firms,” Ma said.

Through “this new economy,” Ma hopes young people and small companies around the world will be enabled to “buy globally, sell globally, pay globally, deliver globally and travel globally.”

Global expansion is the group’s main direction of future strategic evolution, and it will start by entering local e-commerce markets in Southeast Asian countries, Zhang added.

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