One of the founders of the biggest businesses in China wants to help U.S. small businesses sell to his homeland.
Jack Ma, founder and executive chairman of Alibaba, is following through on a promise he made to President Trump in January, USA Today reports. He will hold a conference June 20-21 in Detroit to teach American businesses how to sell to China, one of the biggest small business markets in the world.
Ma claims his business strategy will create more than 1 million U.S. jobs.
Ma hopes to invite up to 2,000 small-business owners, entrepreneurs and farmers to his conference, teaching them about economic opportunities in China and how best to sell there.
Alibaba currently has stakes in 7,000 U.S. businesses, many of them large companies and brands. Alibaba hopes to increase that total to 1 million by focusing on small businesses in the next five years.
Chinese customers may be interested if Alibaba can pull this off, since American imports are considered reputable and high-quality in China. The U.S. already exports about $15 billion in goods to China every year.
Trump has shown conflicting opinions about China, calling them a "currency manipulator" that was "raping our country" during the campaign, but showing more willingness to work with the nation in recent weeks.