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Another point of contention involves the Takeover Code which sets the trigger point of a general offer at a 30-percent holding. That trigger point has to be reset for dual-class shareholding stocks because of the different voting rights of the two classes of shares.

Apart from the hefty funds, the government has also mobilized efforts from 76,400 private businesses in poverty alleviation, which has benefited more than 10 million people, Ou said.

Another good story he shared was how he came up with the name Alibaba. He said he wanted a name that would be globally acceptable and when he asked Americans what they thought he said it resonated. People assumed?it was a reference to the folk tale, “Ali Baba and the Forty Thieves.”

Another 12 countries were considered partially sufficient in meeting the goal of cutting emissions between 20 to 40 percent by 2030.

Any deal struck between the two companies would face intense regulatory scrutiny.