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In a couple of years, the Chinese will be seen as regular participants in international industry. Their companies have to report to shareholders as well as to the Chinese authorities. They need to make money, they have to be efficient.

I don't think any foreign Internet company can effectively compete against Chinese companies in the Chinese market. The regulatory environment is so difficult that it's almost impossible for foreigners to have an advantage over locals who have better political connections and who can manipulate the regulatory system much more effectively.

The Chinese government still would like to see U.S. Internet companies explore the Chinese market, providing they are willing to abide by Chinese law. I think companies like Facebook should think about the Chinese market.

All foreign companies registered in China are Chinese enterprises. Their innovation, production and business operations in China enjoy the same treatment as Chinese enterprises.

Multinationals are more sensitive to public pressure because they have bigger brand names, and they have made commitments to be environmentally sensitive. Chinese firms are not used to this kind of pressure yet.

I get the impression that most Chinese entrepreneurs are so focussed on doing what they need to do to succeed in the Chinese market - which is a big enough challenge even for the established players - that nobody is thinking much about the longer run or the bigger global picture.

Remember, China is the largest country in the world, so they have the confidence, the capital and resources to create large companies.

China has all the advantages in the world. But it doesn't have a history of free thinking, risk-taking pioneers - the kind of people the U.S. is built upon.

If you are only big in China, you are only a local Chinese company.

We don't believe the market can be dominated by one company in e-commerce in China - namely Alibaba. The Chinese market is very wide and deep, with a huge population.