:00:15. > :00:26.China's president heads to India, could his visit change ties between
:00:27. > :00:35.the two Asian giants? And we take a look at the business tycoon behind
:00:36. > :00:40.China's Alibaba. Thank you for joining us for this edition of Asia
:00:41. > :00:45.Business Report on BBC World News. I am Rico Hizon. India is preparing to
:00:46. > :00:49.welcome China's president Xi Jinping today, the symbolic three`day trip
:00:50. > :00:53.is seen as a chance for India to push for improved economic relations
:00:54. > :00:57.with the mainland. 2`way trade between the Asian giant is already
:00:58. > :01:02.worth tens of billions of dollars, but the relationship is compensated
:01:03. > :01:06.by politics and far from equal. Our correspondent has more. When it
:01:07. > :01:09.comes to the economy, India longs to be like China. But it is years
:01:10. > :01:14.behind when it comes to investing in roads, it airports, and railway
:01:15. > :01:18.lines. Now its rival is set to step in and help. During a three`day
:01:19. > :01:20.visit, the Chinese Premier is expected to promise money for
:01:21. > :01:26.specific infrastructure projects like new industrial parks and all
:01:27. > :01:31.trains, and pry Minister Narendra Modi recently returning from Tokyo
:01:32. > :01:34.with pledges of $35 billion of direct investment over the next five
:01:35. > :01:42.years, many expect Beijing to better that figure. China is already one of
:01:43. > :01:47.India's biggest trading partners. 2`way trade stands close to $70
:01:48. > :01:52.billion. But this is not an equal relationship. For every dollar of
:01:53. > :01:56.Indian goods sold to China, India imports more than $3 worth. To start
:01:57. > :02:00.rectifying the imbalance, India needs to make more things that China
:02:01. > :02:06.wants to buy, but there needs to be some willing as well. IT services,
:02:07. > :02:11.an Indian success story, have had a tough time entering the Chinese
:02:12. > :02:14.market. China has also blocked market access for Indian goods like
:02:15. > :02:21.pharmaceuticals and meet. On the flipside, India remains suspicious
:02:22. > :02:26.of Chinese telecom companies. And Delhi has been restrict him access
:02:27. > :02:30.to Chinese Labour especially on big projects like roads and airports.
:02:31. > :02:32.Eliminating some of these obstructions is bound to be a
:02:33. > :02:38.talking point over the next few days, but you can guarantee that any
:02:39. > :02:42.concessions will have to mean both political and economic needs of two
:02:43. > :02:51.of the world's most populous nations. `` have to meet. For more
:02:52. > :03:00.from India and China forging closer relations, I spoke to a professor
:03:01. > :03:06.from Singapore. The Indian government, under Narendra Modi, the
:03:07. > :03:10.new Prime Minister, has not overcome the historical baggage that the
:03:11. > :03:13.previous government had. For instance the Indian government led
:03:14. > :03:19.by Narendra Modi and his party the BJP had nothing to do with India's
:03:20. > :03:23.defeat in the 1962 war with China. To that extent Narendra Modi is in a
:03:24. > :03:27.position to refashion or reconfigure the relations both clinical,
:03:28. > :03:33.strategic, and economic, with China. So how do refashion and reconfigure
:03:34. > :03:40.the relations? Yes, in the services sector certainly. Chinese president
:03:41. > :03:44.Xi Jinping has indicated there will be receptive relations when they met
:03:45. > :03:47.in the summit a few weeks ago. Also from the Chinese side, the Chinese
:03:48. > :03:53.president has also indicated to Narendra Modi in Brazil that China
:03:54. > :03:58.would be willing to invest more in India, in ever so many sectors. So
:03:59. > :04:03.Narendra Modi himself is very keen to have a greater flow of Chinese
:04:04. > :04:07.investment in economic and strategic sectors. And the legislators could
:04:08. > :04:12.match and exceed the $35 billion that Narendra Modi it received from
:04:13. > :04:15.Japan. Well, that is something we will have to wait and see what the
:04:16. > :04:25.two leaders will announce as a possible figure. In other business
:04:26. > :04:29.is making headlines, Chinese footwear makers say their chief
:04:30. > :04:33.executive and chief operating officer have disappeared, along with
:04:34. > :04:40.most of the company's cash. The firm is based in Germany and said that
:04:41. > :04:43.both its bosses were untraceable. At the same time Ultrasonic said its
:04:44. > :04:47.cash reserves in China and Hong Kong had been transferred out of its
:04:48. > :04:53.reach. Shares in the company fell 79% on the news. The Organisation
:04:54. > :04:55.for economic co`operation and development, also known as the OECD,
:04:56. > :04:59.is set to tackle corporate tax avoidance on a global scale. It
:05:00. > :05:02.plans to target multinational dummies that shrink their tax bills
:05:03. > :05:08.by shifting their profits from one country to another. Companies
:05:09. > :05:11.including Starbucks, Amazon, and Google have been accused of pursuing
:05:12. > :05:16.such strategies but they have all said they operate within the law. He
:05:17. > :05:22.is known for making bold claims and dressing like a rock star, he is the
:05:23. > :05:28.charismatic executive chairman of the e`commerce behemoth Alibaba,
:05:29. > :05:34.which is due to sell shares to the public in New York later this week.
:05:35. > :05:37.He is a household name in China, but barely known outside. Our
:05:38. > :05:41.correspondent takes a closer look at the man behind what is expected to
:05:42. > :05:49.be the world's biggest ever stock market listing. This is the Hong
:05:50. > :05:53.Kong neighbourhood of an area famous for high`end shopping. In the
:05:54. > :05:58.building behind me stands one of the main offices of Internet giant
:05:59. > :06:03.Alibaba. A company that in just 15 years has grown from a barebones
:06:04. > :06:10.start up to a name synonymous with Internet retail in China. It was
:06:11. > :06:17.founded by English teacher Jack Martin, on the left, who picked up
:06:18. > :06:20.the language as a teenager on the banks of the Westlake in eastern
:06:21. > :06:25.China, by giving free tours to visitors. After university, he
:06:26. > :06:30.taught. All the while dreaming of his own business. Following several.
:06:31. > :06:32., he gathered about a dozen friends in 1999, in his flat, to found
:06:33. > :06:46.Alibaba. `` Jack Ma. Alibaba focused on connecting
:06:47. > :06:51.factory owners in China with wholesale buyers abroad. One of the
:06:52. > :06:56.early Hires was a young American who first met Jack Ma at a sales event.
:06:57. > :07:00.He was a little bit distracted because the lights were in his eyes,
:07:01. > :07:04.and it was a little bit of an unpolished performance, but for me
:07:05. > :07:09.it was like seeing sort of a rock star in the early days, in the first
:07:10. > :07:16.bid, that was trying to build a revolution. `` first gig. The
:07:17. > :07:20.Revolution came in 2003. Sensing competition from eBay, WACA three
:07:21. > :07:25.decided to enter the world of online retail shopping. The company did so
:07:26. > :07:30.well that three years later eBay decided to close its China business.
:07:31. > :07:35.Now the confident technology tycoon, every inch, he heads a
:07:36. > :07:40.company that sells more merchandise than eBay and Amazon combined. He
:07:41. > :07:44.may have trained as an English teacher but he could run a
:07:45. > :07:49.masterclass in online shopping. And according to its latest numbers,
:07:50. > :07:55.Alibaba has 279 million users, 50% more than a giddy earlier. But the
:07:56. > :07:59.so`called e`commerce lifestyle in China is very different. I spoke
:08:00. > :08:03.earlier to a consultant to find out why. `` 50% more than at year
:08:04. > :08:07.earlier. It is different in many respects. Firstly it is a
:08:08. > :08:12.significant part of everyone's lights. One can control the lives
:08:13. > :08:16.Alibaba control every side of things. They control capturing the
:08:17. > :08:19.entrepreneurial spirit of the Chinese, where they like to sell
:08:20. > :08:24.from their own companies and sell their own products. From that point
:08:25. > :08:28.of view it is very different. One company controls a large part of the
:08:29. > :08:33.market, and is very different because it is an integral part of
:08:34. > :08:37.1's life. And Alibaba is an integral part of everyone's lifestyle. If you
:08:38. > :08:40.take a look at the West, online consumers adapting to new
:08:41. > :08:45.technologies, is at the same with Chinese consumers? Actually, I would
:08:46. > :08:48.argue that consumers to adopt technology faster. What you see is
:08:49. > :08:52.the actual movement of things in China, much much faster than
:08:53. > :08:56.anything else in the world. For example, if you look at instant
:08:57. > :09:00.messaging, not one of the strength of Alibaba, that instant messaging
:09:01. > :09:08.programme has launched itself very quickly. That thing has exploded
:09:09. > :09:11.over China, and not only is it simple instant messaging, but it has
:09:12. > :09:14.moved into commerce. From that point of view it is innovating, doing
:09:15. > :09:17.things you don't see anywhere else in the world. I would argue that
:09:18. > :09:21.China is properly ahead of many other markets. With this attitude of
:09:22. > :09:28.adapting to new technologies quickly, this has basically helped
:09:29. > :09:33.Alibaba's rapid growth. Alibaba has grown significantly over the last
:09:34. > :09:36.few years. The e`commerce market in China is 280 billion US dollars,
:09:37. > :09:41.which is an enormous number. They control the vast majority, 80%, of
:09:42. > :09:45.that particular market. They build a brand very early and are clearly
:09:46. > :09:48.somebody who is trusted. It is that they get so many people visiting
:09:49. > :09:51.their site. Because so many visit the site, it is very difficult for
:09:52. > :09:55.other competitors to action and move into that particular realm. So
:09:56. > :09:59.therefore they essentially have created a very, very strong rand
:10:00. > :10:07.that people can capture. What is the downside to Alibaba's bit business
:10:08. > :10:11.model? The downside as they are so big question is how easy it is for
:10:12. > :10:16.someone to manage a company with such an enormous proportion, I think
:10:17. > :10:18.that is one of the challenges going forward. The challenge is the
:10:19. > :10:21.regular tree environment. The regular treat environment in China
:10:22. > :10:25.changes every now and then. Question is whether they can remain within
:10:26. > :10:32.the right regular treat framework for them `` regular Tory framework.
:10:33. > :10:42.Thank you for investing your time with us. `` regulatory. The top
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