Alibaba executive chairman Jack Ma has said that China's short-term economic outlook will be tougher than expected, and that trade friction with the United States was inevitable.

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"In the coming three to five years...the economic situation will be even more arduous than everyone had expected," the Alibaba founder said on Wednesday during an annual meeting of the General Association of Zhejiang Entrepreneurs, a private business association that he chairs.

Ma's comments come as reports emerge that China is planning to lower its growth target for this year.

On Thursday, Western media cited policy sources saying China would lower its economic growth target for 2017 to about 6.5 percent, down from 6.5 to 6.7 percent last year.

The move by China will reinforce a policy shift from supporting growth towards reforms to contain debt and house risks.

Last year, China recorded its lowest economic growth in 26 years. The country's economy grew by about 6.7 percent.

During the meeting, Ma said that it "was only natural" that China's rapid economic growth over the past three decades would slow down.

Ma added that China should shift its focus to the quality of growth, such as upgrading its manufacturing industry.

Ma also voiced his views on China-U.S. relations, as well as his impression of U.S. President Donald Trump, who he met recently at the Trump Towers in New York.

Ma said that conflicts between the U.S. and China are to be expected.

"If the conflicts were not dealt with properly, they might lead to a relatively big trade war," Ma said, adding that such a trade war would not augur well for China, the U.S. or the world economy.

Ma added that Trump should not be underestimated.

Ma said that although Trump's speaking style and his way of doing things are different from what people are used to from politicians, he has seen the many problems now existing in the U.S., and hopes to solve them in a different way.

Ma said that he believes Trump is a "very smart person."

Tagschina, US, US-China relations, Alibaba, Jack Ma