Jack Ma

U.S. President Barack Obama took time off at an Asia-Pacific summit on Nov. 18 for an unusual task - putting questions to Chinese internet billionaire Jack Ma and a young Filipina entrepreneur on government-business ties in a panel discussion.

Chinese Internet giant Alibaba is to pay 28.3 billion yuan ($4.6 billion) for a near-20 percent stake in consumer electronics retailer Suning, the two companies said in a statement August 10.