China benefits from stability of one-party system, says Alibaba's Jack Ma

Beijing

ALIBABA Group Holding Ltd's Jack Ma said China benefits from the stability of its single-party system, contrasting that with the unpredictability of US politics.

The Chinese billionaire made the comments in response to a question about the country's economy and its prospects for growth. He said he has confidence in China's potential and cited as his number one reason the stability of one party in the country, which has been led by the Communists since 1949. In the US, the Democrats go one way, then the Republicans go another, he said, which complicates planning.