His comments came just hours after China vowed to retaliate against US plans to levy tariffs on about $US200 billion ($277 billion) in Chinese goods. Ma said Alibaba will also be affected by the rising tensions, given its wholesale business allows American merchants to source products from China. But he also said the trauma will offer unprecedented opportunities for companies that can take advantage of them. "We should not focus on this quarter or next quarter or next year's profit. This is a huge opportunity," he said. "If Alibaba cannot sustain and grow, no company in China can grow. I'm 100 per cent confident in that." Alibaba shares, which trade in the US, slipped on Tuesday and have declined about 9 per cent this year. Loading Replay Replay video Play video Play video Ma's remarks carry particular weight because he is an icon of Chinese innovation and has been seen as an ambassador to the US Last year, he met with Trump and promised to create 1 million jobs in the US through 2021.

But Ma, a week after he announced plans to hand over the chairman role to chief executive officer Daniel Zhang, left no doubt Tuesday about his support for his own country. If the US insists on levying tariffs on Chinese goods, then China should shift its business to the rest of the world, he said. "When problems come, learn how to hide, learn how to train," he said. "I believe Daniel and his team will have the wisdom to fight for the future." Loading Ma's speech underscored the void he will be leaving when he steps down in a year's time. His soliloquy was accentuated by comments on everything from geopolitical gambits to the importance of self-awareness on individual limits. He even took a jab at competitor JD.com Inc.'s founder Richard Liu -- while rebutting the idea he was forced out of the company. Ma said he received many queries from acquaintances, including questions on whether he was experiencing a "Minnesota" situation, a reference to current rape allegations that JD's Liu is facing. That elicited a burst of laughter from the crowd. Liu has denied any wrongdoing and no charges have been filed.

Ma said he was confident of leaving the company in the hands of Zhang as the CEO bolsters Alibaba's ambitions in e-commerce, so-called new retail and entertainment. Those initiatives will help sustain revenue growth for the financial year ending in March of 60 per cent, a figure that Chief Financial Officer Maggie Wu first disclosed in May. That kind of growth will likely help Alibaba outpace its global peers, she added. With $US80 billion worth of strategic investments planted, Vice Chairman Joe Tsai said the company is nowhere near finished with deals. Some of Alibaba's most expensive investments have been spearheaded by Zhang -- including at least $US8 billion worth of deals for traditional chains that underpin efforts to reinvent retailing in China. Bloomberg