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hange it, for example, do the search engines, traditional search engines , will sell well , the cheapest standing in the front , but I think we39。ll make the most of credit and credibility in the front , there will be a lot of people would go to are 200 people came to our pany, told me that we will change the rules of the game and pay the answer is that if this change is correct, we will do front of the world , but also our transformation do not serve the people of the need sociologists , economists, let these people to develop our policy we still face many we still feel proud because I believe that in the 21st century , if you want a successful pany , you need to learn is how to solve a problem exists in society , not just learn how to seize several is very easy to seize the opportunity , I39。m not bragging, I think today, 12 years after establishment of Alibaba , I think it is very easy to make money , but to stabilize the money, and social responsibility to promote social development, is very difficult is why we are trying to whom , I believe China because of the Internet, in the next three years there will be a great year , people say a lot of China 39。s stock dropped a lot because the believe that if you look at other areas of the economy , such as the United States is currently facing a huge challenge such as Europe may already know what to do that China will happen ? All occurred in the United States and Europe, the situation can also occur after 2034 in three or four years , China 39。s economy will face a huge you have a premonition that bad things will happen from now on whom it is to prepare , instead of plaining and whining that an Internet pany, we must assume our am not a politician , I only speak for myself , for my clients and the 50 million SMEs 8000000 Taobao sellers the three years after they how to survive ? This is what I want to go to America to learn the Obama learn how he will increase employment , how would he do , organize experience from our mistakes , and then three years later , with our approach to help 39。s why I e think you must have a lot of questions , I am ready to answer all your : Ma, you have just been mentioned, so I hope you honestly answer that question yourself : Are you ready to buy Yahoo it ? A: Good are very are very interested in Yahoo because of Yahoo39。s Alibaba Group is an important asset , and Yahoo 39。s assets to Alibaba for Internet users and the industry are also very we39。re potential investors also municate with us may also have further munication with : want to buy them , you have not municated with Yahoo initially ? A: At present , I can only tell you that we are very : This morning, Chen Zhou said that any questions regarding the VIE , you can ask Chinese government has adopted a national security review system , how do you see the impact of this system ? Do you think this system will seriously affect Chinese panies to obtain foreign financing it ? Q: This morning, Chen Zhou said that any questions regarding the VIE , you can ask Chinese government has adopted a national security review system , how do you see the impact of this system ? Do you think this system will seriously affect Chinese panies to obtain foreign financing it ? A: There are a lot of people in the discussion am spent a lot of time to learn what is the VIE, have not understood this in the end is what it , VIE is a great believe that 10 years ago , this is a great helps China 39。s Internet and other hightech has thus benefited a do not think the government would ban VIE, do not understand why people would be so , in some sensitive areas or industries, such as the financial sector, the government would be more careful this pattern , which I fully understand and matter in which country, if foreigncontrolled panies want to get a banking license , will be opposed , in China also do the VIE model, I have not heard what the Government said that it should be abolished , so why worry about it ? A few days ago I read an article about ”Shao Kong Chuen“ the article, they change is great, I really began to understand VIE is legitimate and is the power of the 10 years , if in certain sensitive sectors , VIE makes you feel unfortable, please join us to people say that you have a problem Alipay , I frankly speaking, because of this , we put on the table in terms of the People39。s Bank asked whether foreign investors Paypal , I must tell the you agree with this , right ? Because we are developing more and more, so it is necessary to do the job very like today , if I say I want to buy Paypal, do you think the will not respond to it ? They will have move!Even the acquisition of Yahoo , they will!Therefore, we must be fair to say that 39。s the is not a big is a it on the table to discuss it , I do not think the government would ban : If you could go back again , will you do it ? A: We went through a very difficult period of , when everything is going well , I would think not quite the United States , you call it paranoia , I did in China , we did make a lot of , if the return to the past , we will buy Yahoo China What ? Yes, we will buy!But what we will in this way ? No, we will will use a more clever do not have any experience in mergers and acquisitions , mergers and acquisitions , especially Internet if you ask me, if interested in Yahoo , yes, I certainly may be very few truly understand Yahoo USA say that China Yahoo so bad , how can you have the nerve to say that you really understand the ? Four years ago, I would say we have to solve a lot of problems , if you do not do that today, we may be we are willing to share with you how we saved money , how to dismiss some people, then we must be a little earlier dismissal of some of the people , leaving some think that the Internet panies should think about it, learn something from what we do not learn from the mistakes of others , sooner or later we will be subject to the same : How did you manage T