Alibaba Sales Pick Up as Chinese Shoppers Defy Slowdown: ChartBy and
Alibaba Group Holding Ltd. posted a better-than-expected 39 percent surge in quarterly revenue, as China’s dominant e-commerce operator defied concerns about a slowing economy with promotions to woo savings-rich consumers. Asia’s biggest Internet company, often regarded as a proxy for the nation’s consumers, is capitalizing on the liquidity of households and expanding into rural areas, helping limit the impact of an economy growing at the slowest pace in 25 years.
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