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"Given the current relatively sufficient supplies of money and credit, a prudent and stable monetary policy stance should be taken in the future, to prevent fast expansion of leveraging. We need to pay the price and suffer pain when we dispose of risks," he said.

"Foreign-funded companies should not be worried," he said.

"Furthermore, China believes in reciprocity. For example, instead of withdrawing from the WHO (World Health Organization), China has prioritized reciprocal cooperation with other countries in developing a vaccine for COVID-19," he said.

"Having said that, Alibaba has a great share in e-commerce and cash flow, meaning they can invest significantly and they will fight very hard," McKenzie said.

"Focusing on the customer is one of the key things. For me, it's a longer term strategy and it takes time to implement, but ultimately I think it's about creating a business that has a real focus on the customer－that's always been my philosophy."