An UN trade body has named Chinese billionaire Jack Ma a special advisor on youth entrepreneurship and small business Tuesday, in a bid to promote growth and development around the world.

Ma, one of the richest man in China and the founder of commerce giant Alibaba, will be offering his experience and insight to the United NationsConference on Trade and Development (Unctad).

The appointment came after Ma represented small businesses in the G20 meetings that took place in China's eastern city of Hangzhou earlier this month.

Ma also hosted politicians and business leaders at his Alibaba headquarters, which are also in Hangzhou.

Unctad Secretary-General Mukhisa Kituyi said Ma "brings a visionary approach to entrepreneurship, a thirst for learning, and a belief in a better world that make him a perfect match for Unctad."