Alibaba Group Holding Ltd Executive Vice Chairman Joe Tsai said on Thursday he is not thrilled that the company’s share price is below its IPO level a year ago, but is confident the e-commerce titan is better than it was then.

Tsai said in an interview with Reuters investors should take a long-term view of the stock rather than looking for a quarter-to-quarter pop.

Despite fears of a Chinese economic slowdown crippling consumption, Tsai said the country’s consumers are “very, very healthy”.

(This story has been refiled to correct the dateline to HANGZHOU, China from SHANGHAI)

(Reporting by John Ruwitch and Paul Carsten)

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