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Alibaba promises to import 200 billion international goods into China, Business News



Emphasizes the continued commitment to providing Chinese consumers with high quality products

SHANGHAI. November 6, 2018 / PRNewswire / – Alibaba Group (NYSE: BABA) today announced its commitment to contribute to import 200 billion dollars over 120 countries over the next five years, highlighting the company's long-term commitment to globalization and stepping up its efforts to meet the growing demand of Chinese consumers for high quality international products.

"Globalization is one of Alibaba's most critical long-term growth strategies. We are building the future trade infrastructure to create a globalized digital economy where trade is possible for every country in the world," he said Daniel Zhang, CEO of the Alibaba Group. "Using Alibaba's innovative technology and robust ecosystem, we are committed to making global trade more inclusive and fulfilling our mission" to make it easier to do business anywhere "in the digital age."

The company revealed 200 billion dollars its goal at the Global Leadership Import Summit Importance took place at the first-ever China International Import Expo in Shanghai. Between 2019 and 2023, Alibaba will contribute to the import of international goods from businesses of all sizes in top countries such as Germany. Japan. Australia, U.S.A. and South Korea. A few top global brands, including P & G, Nestle, JBS and Refa, have presented their holistic partnership with the entire Alibaba ecosystem. By working with various Alibaba business units, these brands have been able to effectively engage with China's massive middle class, a major engine that has fueled China's increased consumption.

"China's middle class is booming China, consumers want faster access and a wider range of high quality products from around the world, "he said Alvin Liu, Director General of Tmall Import and Export. "Tmall is uniquely positioned to help international brands reach the growing market in China as consumers seek to improve their lifestyle."

According to a joint report from Deloitte China, China International Chamber of Commerce and AliResearch, China's strong economic growth in recent years has increased the number of Chinese consumers with medium and large incomes, which fuel the demand for imported quality goods. The report shows that China's cross-border e-commerce market has grown remarkably, with the proportion of imports to total e-commerce sales rising from 1.6% in 2014 to 10.2% in 2017. The report also highlights that between 2014 and 2017 , the number of buyers on Alibaba's cross-border shopping platform, Tmall Global, has increased tenfold.

About the Alibaba Group

Alibaba Group's mission is to make it easy to do business anywhere and the company wants to achieve a sustainable growth of 102 years. For the fiscal year ended March 2018, the company reported revenue from 39.9 billion dollars.

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