Alibaba founder Jack Ma Yun File Photo: VCG

Chinese companies experienced difficulty throughout 2019 under pressure from external and internal forces, which also created opportunities, Chinese e-commerce giant Alibaba's founder Jack Ma Yun said on Saturday.

"Some firms may have had difficulties in the past. But in 2019, most of them encountered challenges," said Ma at the 2019 Shanghai Forum, as Zhejiang Entrepreneur is the theme of this year's event.

Ma said he had received five phone calls on Friday from friends asking for loans, according to media reports.

Ma also shared that over the past week, at least 10 of his friends said they were planning on selling their real estate holdings, noting that this could be the beginning of a tough period for entrepreneurs.

Chinese entrepreneurs and businesses should evolve with the times as the world is experiencing great fluctuations and the Chinese economy is undergoing significant adjustments, Ma emphasized, and added, "I believe it is also an opportunity [for Chinese entrepreneurs]," he said.

China has increased efforts to promote industrial upgrades while facing great pressure from the US-initiated trade war. The Chinese government has set the tone for supporting private firm operations and issued new guidelines.

The State Council, China's cabinet, unveiled new guidelines on Sunday that gives private companies greater market access.

Private firms will be allowed to engage in competitive businesses in key sectors including electricity, telecommunications, railroads, oil and natural gas. 

Taxes and fees for private firms will be reduced and legal property protection will be enhanced on issues determining illegal gains, outside property in legal cases, and property according to the laws.