Pursuits
Alibaba Reaches 3 Trillion Yuan Milestone Even as China Slows
- E-commerce giant would rank as 6th largest provincial economy
- Alibaba has a reach of 12,000 rural villages in China
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Alibaba Group Holding Ltd. sold 3 trillion yuan ($463 billion) of goods through its online shopping websites in the year ending March, as China’s largest e-commerce operator moved deeper into the untapped countryside and courted foreign brands.
The company wants to bring in more quality non-Chinese goods and continue to increase its footprint in rural areas to sustain growth, Alibaba Vice Chairman Joseph Tsai said in a Monday post on Alizila, a blog run by Alibaba.