Jack Ma speaks at the convention.

China has the best business environment in the world, said Chinese billionaire Jack Ma at the 4th World Zhejiang Entrepreneurs Convention on Nov. 29.

Ma, chairman of e-commerce giant Alibaba, attributed the favorable environment to China’s unique political stability and security. The high-speed annual growth of over 6% is also an important factor, he added.

Ma said his rich experience and repeated reading of the 19th CPC National Congress report helped him reach this conclusion.

He stressed the importance of globalization at the convention, calling it a must for all enterprises, even small- and middle-sized ones. He suggested these companies reach out to the world, since it is easy today to find global partners.