Duterte meets Jack Ma

Dharel Placido, ABS-CBN News

Posted at Oct 25 2017 04:18 PM | Updated as of Oct 25 2017 07:15 PM

MANILA - President Rodrigo Duterte on Wednesday met with Chinese tycoon Jack Ma in Malacañang.

Ma, founder of e-commerce giant Alibaba, described his meeting with Duterte as “perfect” and “excellent.”

The Chinese tycoon visited the Philippines to give a talk before students and faculty members of the De La Salle University.

The 53-year-old Ma is the world's 23rd richest man according to Forbes Magazine, with an estimated net worth of $38.3 billion.

Ma has a controlling stake in internet marketplace Lazada, which has up to 10 million customers in the Philippines. His Ant Financial also forged a strategic partnership with Globe Telecom.