WUZHEN, December 16. /TASS/. Russia and China need to develop an infrastructure for further development of e-commerce, the Alibaba CEO and founder Jack Ma told TASS Wednesday.

"Overall we are pleased with the results of the work in Russia this year, but we could do more," he said. "Russia and China need to increase the degree of transparency in the field of e-commerce. We also need to develop infrastructure that will be the foundation for the future," Jack Ma contunied. According to him, "changes in the political courses of the countries" are also important for the long-term development.

Alibaba Group Holding Limited is a Chinese e-commerce company that provides consumer-to-consumer, business-to-consumer and business-to-business sales services via web portals. Alibaba Group was founded by Jack Ma in 1999, has its own electronic payment system Alipay, and operates online stores Taobao.com and AliExpress.