Beijing, Sep 21 (IANS): Chairman of e-commerce giant Alibaba, Jack Ma, has been appointed adviser to the UN Conference on Trade and Development (UNCTAD), his company said Wednesday.

Ma, one of the richest men in China, will be UNCTAD's Special Adviser on Youth Entrepreneurship and Small Business, Efe news agency reported.

His appointment was announced by UNCTAD Secretary-General Mukhisa Kituyi in New York, where the annual UN General Assembly is being held.

"Mr. Ma is an influential and respected pioneer of the internet era, innovator, entrepreneur, and philanthropist," Kituyi said.

"He brings a visionary approach to entrepreneurship, a thirst for learning, and a belief in a better world that make him a perfect match for UNCTAD," she added.

Ma, whose company accounts for over 80 per cent of online sales in China, called the appointment an "honour".

"I have spent my career working with entrepreneurs and know the positive social and economic impact when people are given the opportunity to participate in the global economy," Ma said.

UNCTAD assists developing economies to promote small and medium enterprises, with special emphasis on young entrepreneurs, to enable them to compete in the global economy.