Alibaba has also been saving people time during the past two decades with unremitting efforts to increase efficiency. The Chinese now can get 200 more things done in 10 minutes than they could 20 years ago.

Based on strong computing power, intelligent algorithms and data analysis and processing ability, the company has provided people with a better and more convenient way to live their lives.

To resign as group chairman is a new beginning for both Jack Ma and Alibaba.

"The value of life should be seen in what a man has experienced and not in what he has received," Ma said, noting that he is not "retiring" but spending more time and energy on education, philanthropy and environmental protection.

Ma's successor, Zhang, explained the three future strategies of Alibaba, which lie in the promotion of global transaction, payment, delivery and entertainment, the creation of new domestic demands and the further application of data and cloud computing.

Zhang, the chief designer of Tmall's Singles' Day shopping carnival, joined Alibaba in August 2007 as Taobao's chief financial officer and was appointed as the group CEO in 2015.

The company also announced a new vision to celebrate its 20th birthday. It plans to provide services for 2 billion consumers, create 100 million new jobs and help 10 million small and medium-sized enterprises to achieve profitability.

Alibaba's mission to "make it easy to do business anywhere" has never been more crystal clear.

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