fbpx

Type to search

Alibaba Aims for $100bn SE Asia Volume – The Information

E-commerce giant aiming to serve more than 300 million users and boost regional e-commerce transactions to $100 billion a year


Alibaba logo
The pick-up in Chinese convertible bond issuance is giving dealmakers hope that capital market activity will start to lift, especially in Hong Kong, where IPOs are at the lowest point in 15 years. Alibaba raised $5 billion in May. This image shows its head office in Beijing (Reuters).

 

Alibaba has set a new long-term target for its Southeast Asian operations, saying it aims to serve more than 300 million users there and boost total regional e-commerce transactions to $100 billion a year, up nearly fivefold from the current level, The Information reported.

The e-commerce giant’s new goals, announced  this week, come as the e-commerce giant is facing an increasingly challenging environment in China due to the country’s slowing growth and Beijing’s regulatory crackdown on the internet sector.

Read the full report: The Information

 

READ MORE:

Alibaba Empire Under Threat from Douyin, Pinduoduo

Alibaba Revamps E-Commerce Businesses, Names New CFO

India’s Zoomcar Expands Its Southeast Asian Footprint

Tags:

George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.