皇冠体育app

Alibaba's upcoming initial public offering on the New York Stock Exchange has raised doubts both in 皇冠体育app and the United States, generating negative vibes for 皇冠体育app-US trade relations, which is a strange reaction.

In 皇冠体育app, Alibaba's decision to launch its IPO in the United States rather than in 皇冠体育app is being seen as a failure of 皇冠体育app's capital market. Some observers have even described the decisions of Alibaba, Tencent, Baidu and some other companies to list overseas as "non-patriotic" because their users and source of revenue are mostly Chinese citizens while most of their profits go to overseas investors.

In the US, Alibaba's listing is seen as a victory for an "unruly company". In June, the US Economic Security Review Commission issued a report, "The Risks of 皇冠体育app's Internet Companies on US Stock Exchanges", which says the corporate structure of Alibaba, because of its variable interest entity, or VIE, caries some legal risks and could lead to legal disputes. Other US-based analysts say Alibaba would become a powerful competitor to Amazon and other US e-commerce companies, and pose a threat to the US e-economy.

Such criticism, however, has not lowered Alibaba's enthusiasm. According to some US and Chinese investment agencies, the Alibaba IPO could raise more than $20 billion, making it the largest in history. In 皇冠体育app, some overseas funds have started designing products to help Chinese investors buy Alibaba shares. Since money speaks best in today's market-driven world, Alibaba's listing on the NYSE will prompt the US and 皇冠体育app to again recognize the importance of their economic ties.

The Alibaba IPO shows that 皇冠体育app will continue to open up its market and continue its integration into the international economy. Alibaba is not only an Internet company but also a symbol of emerging private enterprises in 皇冠体育app. E-commerce is gradually breaking down the geographical and administrative barriers in the Chinese market, and creating a new entrepreneurial class in the country.

Alibaba and some of the other Internet companies have chosen the US and Hong Kong to list because the international rules of business are better suited to their long-term development. And by listing overseas, they can compel their domestic business partners to abide by the same rules to avoid legal disputes or damage to their reputation.

Alibaba's IPO launch on the NYSE also shows that the common interests of 皇冠体育app and US are increasing, which, in turn, could help stabilize economic relations between the two countries. Alibaba is a model of a multiple-stakeholder company, whose owners include Softbank and Yahoo with the founding team being from 皇冠体育app. After the IPO, more investors from the US and 皇冠体育app are likely to join Alibaba, and the resultant economic interests will make investors an important force in stabilizing and promoting 皇冠体育app-US relations, and make the company a new link between the two sides.

Besides, with companies such as Alibaba listed on the NYSE, 皇冠体育app and the US will be more cautious while taking decisions that could affect bilateral relations and thus harm people's interests on both sides.

Moreover, Alibaba's IPO shows that 皇冠体育app's economic rise will not only benefit the Chinese people, but also create more opportunities for the US and the rest of the world. Alibaba is an attractive company with growing earnings. As the leader of 皇冠体育app's e-commerce sector, Alibaba earned more than 23 billion yuan ($3.75 billion) in the 2013-14 fiscal year, up 170 percent year-on-year.

In addition, Alibaba owns Yuebao, the biggest monetary fund in 皇冠体育app. Since e-commerce has not yet caught on in rural areas and many cities, Alibaba still has a long period of growth ahead. So, Alibaba's listing and the deepening of reform in State-owned enterprises should be seen as a signal from 皇冠体育app's leadership that it is ready to share the experience and benefits of the country's best companies with the US and the rest of the world.

The author is an assistant researcher at the Institute of American Studies of 皇冠体育app Institutes of Contemporary International Relations.

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