Alibaba co-founder Jack Ma announced on Monday he would step down as head of the pioneering Chinese e-commerce giant in one year, a departure already drawing comparisons to the retirement of late Apple founder Steve Jobs.

Analysts said the early withdrawal of the 54-year-old Ma, who became the charismatic face of a company that has revolutionised how and what China's people consume, will test the company's ability to carry on Ma's vision amid rising competition.

But like Apple's transition to current boss Tim Cook, Alibaba CEO and anointed successor Daniel Zhang may be less magnetic than his predecessor but has proven an able steward since effectively taking the operational reins years ago, they said.

"Day-to-day operations-wise Alibaba will not be affected that much. But since he's (Ma) the face of the company, people may lose a little bit of faith," said Jackson Wong, associate director with Huarong Securities in Hong Kong.

"But where Jobs died, Ma is expected to stay on in an advisory role, so there shouldn't be too much impact."

Ma -- who turned 54 on Monday -- said in a statement that he will stay on as executive chairman until his 55th birthday before handing over that role to Zhang.

"While remaining as executive chairman in the next 12 months, I will work closely with Daniel to ensure a smooth and successful transition," Ma said.

Ma, who has expressed a desire to follow in the philanthropy footsteps of Microsoft founder Bill Gates, said he would remain on Alibaba's board until 2020.

"The one thing I can promise everyone is this: Alibaba was never about Jack Ma, but Jack Ma will forever belong to Alibaba," he said.

- Humble beginnings -

Ma was an English teacher before starting Alibaba in his apartment in the eastern city of Hangzhou in 1999 -- where its headquarters remain to this day -- building it into an e-commerce colossus and becoming one of the world's richest men and most recognisable figures in China.

He has a net worth of more than $40 billion according to the Bloomberg Billionaires Index, and Alibaba, which has shares listed in New York, was valued at $420.8 billion as of last Friday.

"Ma possesses an enviable clarity about how everything fits together," said Mark Tanner, founder of Shanghai-based research and marketing company China Skinny, told Bloomberg News.

"He has understood Chinese consumer needs better than anyone and provided online services to meet them through convenience, entertainment and efficiencies."

Alibaba sought to reassure investors of the change, with Ma saying he had "full confidence" that a leadership hierarchy in place for years will "win support from customers, employees and shareholders."

But while Alibaba may lose the company's face, analysts said the business brains remain with Zhang.

With his impish grin, Ma in recent years has largely assumed a role as a globe-hopping ambassador, marked by playful antics such as dressing up as Michael Jackson for a dance routine at a company gathering last year.

But it has been largely under the more reserved Zhang's stewardship that Alibaba's two main e-commerce platforms, Taobao and Tmall, have turned into richly profitable cash cows and other arms such as digital payments have flourished, said Wong of Huarong Securities.

- Wowing investors -

The company has wowed investors year after year with sterling revenue growth with Zhang at the helm.

But Alibaba faces intense competition in China from the likes of rivals Tencent, JD.com, and other rising upstarts.

Alibaba still dominates Chinese e-commerce, however, and is pouring investment into new initiatives to broaden its ecosystem and stake out position in fast-growing future arms.

These include bricks-and-mortar retail, cloud computing, digital media, movies, the grocery sector, meal deliveries and advertising.

It also has upped investments in overseas ventures and in 2015 bought the South China Morning Post newspaper.

Alibaba did not specify exactly what Ma has planned post-retirement, but the former teacher has in recent years taken on education initiatives as pet projects.

"I still have lots of dreams to pursue. Those who know me know that I do not like to sit idle," he said.

Jack Ma's Alibaba: E-commerce, film and food delivery
Beijing (AFP) Sept 8, 2018 - Chinese internet tycoon Jack Ma is retiring from Alibaba on Monday after transforming the e-commerce company into a global behemoth that has branched out into various businesses.

Here are the different ventures that have helped Alibaba grow into one of the world's most valuable firms, worth $420.8 billion based on its share price at the close of trade on Friday:

- Tmall and Taobao -

E-commerce is the company's bread and butter, the business that Ma launched in 1999 and which outmuscled eBay in China eight years later.

With the click of a finger on the phone or computer, Chinese consumers can buy a wide array of products on the Taobao and Tmall platforms, from clothes to electronics, food, luxury products and more unusual goods, such as the Boeing 747 cargo planes up for auction last year.

E-commerce still accounts for more than 80 percent of Alibaba's business, and revenues in the segment surged 61 percent in May-June.

Active users of its e-commerce marketplaces grew by 17 million in June to reach 634 million, the company said.

Customers can use Alipay, the e-payment app of Alibaba's affiliate Ant Financial, to pay for the products.

In a sign of its growing global ambitions, Alibaba also has upped its investment in subsidiary Lazada, Southeast Asia's leading online shopping firm.

The spending surge is motivated by intense competition in China between Alibaba, internet giant Tencent, e-commerce rival JD.com, and rising upstarts like Pinduoduo for turf in the country's rich commercial cyber-landscape.

- Entertainment -

The company has splurged in the film and entertainment industry, with its Alibaba Pictures unit buying a minority stake in Steven Spielberg's Amblin Partners, which owns DreamWorks Pictures, in 2016.

Earlier this year, Alibaba paid $750 million for a stake in the cinema division of Chinese firm Wanda Film, becoming its second largest shareholder.

The company has invested in Tom Cruise's "Mission: Impossible" blockbuster saga, with the latest instalment dominating the box office in China.

But one of its most recent productions was a monumental flop.

"Asura", the most expensive Chinese film ever made with a $113 million budget, was pulled from theatres on its opening weekend in July after bringing in a measly $7.3 million.

Alibaba also owns video streaming website Youku, which partnered with Chinese state broadcaster CCTV to show all of the 2018 World Cup games.

They were watched through 180 million unique devices, including cellphones and TVs, according to the company.

Its revenue from digital media and entertainment rose to $903 million in the most recent quarter, a 46 percent year-on-year increase.

- Cloud computing -

Alibaba is also betting its future on cloud computing, which brought the company $710 million in revenue in the most recent quarter, a 93 percent increase.

Its most recent earnings report said Alibaba Cloud's customers include InterContinental Hotels Group, which is using the technology to provide on-demand room booking for guests in China.

China's Minsheng Bank adopted a "financial cloud" while the China Communications Construction Group uses the technology to improve its supply chain management.

- Food and adverts -

Alibaba is also taking a bite out of China's growing food delivery industry, which has soared as people order and pay for lunches and dinners via phone apps.

Earlier this year, it completed the acquisition of Chinese food-delivery leader Ele.me in a deal that valued the Shanghai-based start-up at $9.5 billion.

In August, Alibaba teamed up with Starbucks to help the US company face a challenge from China's Luckin Coffee. Customers are able to by Starbucks drinks via the Ele.me app.

In May, it led a group of investors that paid nearly $1.4 billion for a 10 percent stake in ZTO Express, an express-delivery company.

Alibaba has also invested in brick-and-mortar retail, including supermarkets, electronic shops and furniture stores.

Alibaba is also investing in advertising. In July, it took a minority stake in Chinese outdoor advertiser Focus Media to expand its ad reach beyond its online platforms.

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