On November 22nd, the main indexes of A shares collectively fell by more than 3%, and closed at the lowest level in the whole day. The Shanghai Composite Index closed at 3,267 points, down 3.06%, with a turnover of 707.6 billion yuan. The Shenzhen Component Index closed at 10,438 points, down 3.52%, with a turnover of 1.08 trillion yuan. The GEM index closed at 2,175 points, down 3.98%, with a turnover of 489 billion yuan.

　　Affected by the situation in Russia and Ukraine, Hong Kong stocks opened higher and went lower. The Hang Seng Index opened 12 points higher. It rose 110 points in the early session and peaked at 19,711 points. Then it turned lower, falling 371 points or 1.89% to close at 19,229 points. The index of state-owned enterprises fell 147 points, or 2.1%, to 6,887 points; The Hang Seng Technology Index fell 111 points, or 2.57%, to 4,246 points. The total daily turnover of Hong Kong stocks was 157.983 billion yuan.

　　After many companies announced their results, their share prices dropped significantly, and Baidu Group (09888.HK) shares fell by 8.59%. Alibaba (09988.HK) fell by 4.38%; Aauto Quicker (01024.HK) fell by 4.42%; Medical Technology (02158.HK) dropped by 17.98%.

　　The market is looking forward to the ideal sales of Huawei Mate70, and the share price of mobile phone parts stocks has risen across the board. The share price of AAC Technologies (02018.HK) rose by 7.87%; Qiu Ti Technology (01478.HK) rose by 4.03%; () Electronics (00285.HK) rose by 4.27%; Shunyu Optics (02382.HK) rose by 2.2%; Xiaomi (01810.HK) increased by 1.42%.

　　Large-scale technology and semiconductor stocks fell across the board, and Tencent Holdings (00700.HK) shares fell by 1.72%; Hey (09626.HK) fell by 3.46%; Meituan (03690.HK) fell by 3.24%; SMIC (00981.HK) fell by 6.7%; Hua Hong Semiconductor (01347.HK) fell by 7.5%.

　　After A shares fluctuated within a narrow range continuously, the index was broken and adjusted. Industries and individual stocks generally fell, and the FTSE A50 index once fell by nearly 3%. Today, the market chose a rapid adjustment in the afternoon, mainly due to internal technical requirements, followed by external factors. If we look at it for a long time, we can’t break through it. Appropriate adjustment will help all parties in the market to rebalance the position layout, but overall we still keep the bullish thinking unchanged.

　　The geopolitical situation in Russia and Ukraine has warmed up, and funds have flowed into the bond market and the gold market to avoid risks. The international gold price has risen above 2,700 US dollars, and the US dollar exchange index has risen above 107. Apart from risk aversion, some speculative short money has been transferred to the current eye-catching virtual assets, and the Chinese and Hong Kong stock markets have become one of the markets where funds have withdrawn. The main index of A shares fell to a two-week low, while Hong Kong stocks fell to a two-month low.

　　In terms of technical trends, the three major indexes of Hong Kong stocks, namely, Hang Seng Index, State-owned Enterprise Index and Hang Seng Technology Index, all fell below the 50-day moving average, while the 10-day moving average of Hang Seng Index and China National Index fell below the 50-day moving average, resulting in a death cross. Next week, it will fall below the 50-day moving average in 20 days, and there will be a double death cross, and bad technical signals will appear one after another.

　　Next week, we will focus on the development of the geopolitical situation in the Middle East and Russia and Ukraine, which will affect the global capital flow and risk orientation. On the other hand, China will publish the industrial profit value, and the Federal Reserve will also publish the FOMC meeting minutes.

　　　　　 Ma Yun was born in Hangzhou, Zhejiang Province in 1964. One of the main founders of Alibaba Group, Chairman and CEO of Alibaba Group, Chairman and Non-executive Director of Alibaba Company, Director of Softbank Group, Chairman of Yahoo China Board of Directors, Member of Business Advisory Committee under Asia-Pacific Economic Cooperation, Dean of Alibaba Business School of Hangzhou Normal University, Director of Huayi Brothers Media Group, and distinguished professor of Beijing Huaxia Management College.

　　In 1988, he graduated from Hangzhou Normal University (now Hangzhou Normal University) majoring in English, and then taught at Hangzhou Dianzi University. In 1995, when I visited the United States, I first came into contact with the Internet. After returning to China, I founded the website "Yellow Pages of China". In 1997, he joined the Ministry of Foreign Trade and Economic Cooperation of China, and was responsible for developing its official website and the online trading market of China products.

　　Entrepreneurial course:

　　1988 -1995 Lecturer in English and International Trade at Hangzhou Dianzi University;

　　In 1992, he started his business for the first time and established Haibo translation agency.

　　In 1995 -1997, the first Internet business information publishing website in China, "China Yellow Pages", was founded.

　　From 1997 to 1999, he joined the China International Electronic Commerce Center of the Ministry of Foreign Trade and Economic Cooperation to develop the official website of the Ministry of Foreign Trade and Economic Cooperation and the online China commodity trading market;

　　In 1999, he officially resigned from public office, founded Alibaba website, and developed e-commerce applications, especially B2B business. At present, Alibaba is one of the largest B2B websites in the world. The success of Alibaba’s website has enabled Ma Yun to be invited to give lectures at many world-renowned institutions of higher learning, including Wharton School of the University of Pennsylvania, Massachusetts Institute of Technology and Harvard University.

　　In October 2000, he was named one of the 100 "future leaders" in the world in 2001 by the World Economic Forum.

　　In 2001, the American Asian Business Association selected him as the "Business Leader of the Year" in 2001;

　　In May 2002, he became the cover of Nikkei, Japan’s largest financial magazine. Nikkei magazine spoke highly of Alibaba’s contribution to Sino-Japanese trade. "Alibaba has reached a balance of payments and become the pride of the entire Internet world. Since China joined, the Japanese market has gradually warmed up, and a large number of Japanese companies have turned their attention to Alibaba and placed strong interest and hope on her.

　　Established an independent third-party electronic payment platform in 2003, and now it ranks first in China market.

　　In December 2004, he won the Top Ten Economic Person of the Year Award.

　　In 2005, it strategically cooperated with Yahoo, the world’s largest portal at that time, and merged all its assets in China, so Alibaba became the largest Internet company in China.

　　Since 2006, he has become the most distinctive and influential judge of CCTV 2 Win in China, and also used Yahoo China and Alibaba to provide a platform for the official website of Win in China. Provide a platform for millions of entrepreneurs.

　　In August 2007, Alibaba launched the marketing platform "Ali Mama" with online advertising as a winning project. Alibaba attracted a large number of small and medium-sized webmasters to join with the low-end threshold of payment.

　　In 2008, Alibaba implemented the policy of advertising three guarantees, which set off waves again.

　　In March 2008, Mr. Ma Yun was selected as the 30 Best Chief Operating Officers of Barron Financial Weekly in 2008.

　　In July 2008, Mr. Ma Yun won the 10th Entrepreneur Award in Japan. In the past, this award was only given to entrepreneurs in Japan.

　　In September 2008, Mr. Ma Yun was selected as one of the 25 most influential figures in the Internet industry by American Business Weekly. He is also the only China entrepreneur on the list.

　　On October 31, 2008, Alibaba Co., Ltd. and Hangzhou Normal University jointly established Alibaba Business School of Hangzhou Normal University, and served as a director.

　　China’s "Father of the Internet"

　　In a sense, the entrepreneurial history of entrepreneur Jack Ma is also the development history of China Internet.

　　In April, 1995, Ma Yun, who had just turned 30, devoted himself enthusiastically to the rising Internet wave and founded the first real commercial website in China-China Yellow Pages. At that time, Yahoo, which was praised by the Internet industry as the "originator of mountains", was just founded less than a year ago; At that time, China mainland had not yet opened a dedicated internet access; At that time, Zhang Shuxin, who was famous in the industry because he founded the once-famous but short-lived "Yinghaiwei" company in the future, was rushing around the "yamen" in Beijing for government approval.

　　A few years later, when people re-studied the history of Internet development in China, Ma Yun, an entrepreneur who had experienced many vicissitudes, won the laurel that should have belonged to him-China, the "father of the Internet". Strangely enough, it is quite different from the attitude of Chinese people. In the west, most people call Jack ma (the English name of Jack Ma) China’s "Mr.Internet" ("the father of the Internet").

　　However, for Ma Yun, who has always been indifferent to fame and fortune and "doesn’t care about what others think of him, but only cares about how he sees the world", he doesn’t need to be happy or sad about whether he can "clear his name", because history has given him enough opportunities to prove it.

　　At the end of 1997, Jack Ma, forced to part ways with China Yellow Pages, formally joined the China International Electronic Commerce Center (EDI) under the invitation of the Ministry of Foreign Trade and Economic Cooperation. During this period, enthusiastic Ma Yun led his team to develop a series of sites, such as "Online China Commodity Exchange Market", "Online China Technology Export Fair", "China Merchants", "Online Canton Fair" and "China Foreign Trade and Economic Cooperation", which were visited by leaders of Li Lanqing, Wu Yi and other countries. Among them, "China Foreign Trade and Economic Cooperation" was the first real government site among the major ministries and commissions in China, and "Online China Commodity Exchange Market" was even praised as "the never-ending Canton Fair" by Comrade Shi Guangsheng, then Minister of Foreign Trade and Economic Cooperation.

　　In 1999, in the tide of the times when the whole world was crazy about ".COM fever", under the mainstream internet pattern of Yahoo, eBay and Amazon, the "alternative" Ma Yun shouted the slogan of "only catching crayfish", held high the banner of "being the redeemer of small and medium-sized enterprises" and opened up a new field-B2B of small and medium-sized enterprises. Since then, after Yahoo, eBay and Amazon, a brand-new "fourth mode"-Alibaba mode has appeared on the world Internet map. Before entrepreneur Ma Yun, China enterprises and entrepreneurs who were accustomed to the total westernization and large-scale import of European and American economic models had never been so proud on the big stage of the new world economy as they are today.

　　Ma Yun was the first entrepreneur to develop e-commerce applications in China and stick to the Internet field. He and his team created many firsts in Internet commerce in China, determined to make the best site in the world for China people. He is the first entrepreneur in Chinese mainland to appear on the cover of Forbes, an authoritative international financial magazine. The famous World Economic Forum selected him as one of the top 100 "future leaders" in the world in 2001.

　　Alibaba, founded by Ma Yun, is praised by domestic and foreign media, Silicon Valley and foreign venture capitalists as one of the five representatives of Internet business schools on a par with Yahoo, Amazon, eBay and AOL. Its establishment promoted the establishment of commercial credit in China, and created unlimited opportunities for small and medium-sized enterprises in the fierce international competition, "so that there is no hard business in the world".

　　Harvard University twice included his and Alibaba’s management practices as MBA cases. In the second MBA management case of Alibaba released in January 2002, Harvard quoted Ma Yun’s explanation of Alibaba’s core values. "Ma Yun believes that the value of Alibaba lies not in the number of views per day, but in whether it can bring value to customers." In order to show the recognition of Alibaba’s rapid development.

　　Alibaba was twice selected as one of the best B2B websites in the world by Forbes, an authoritative financial magazine in the United States, and was repeatedly rated as the most popular B2B website in the world, an excellent business website in China, a hundred excellent websites in China and the best trading network in China by relevant institutions. Since the establishment of Alibaba, more than 400 famous news media in more than a dozen languages around the world have never stopped reporting on Alibaba, which has been praised as a "real world-class brand" by the media.

　　Taobao, a personal auction website founded by Ma Yun, has successfully embarked on a unique road of localization in China, and has become the largest personal auction website in Asia since the first quarter of 2005.

　　When people talk about the development of Internet in China for more than ten years, they have to mention the entrepreneur Jack Ma, and it is impossible to avoid the existence of this "ghost". He is an unshirkable pioneer and "godfather", but also a subversive and "rebel" full of the spirit of change.

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