Alibaba is China’s biggest online commerce company. Its IPO is the biggest in history.
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How big a market is China? Well, Alibaba – through its various sites – hosted $248 billion of online shopping transactions last year, which is, according to the Wall Street Journal, more than eBay and Amazon.com combined. The Journal cites data from a group called iResearch projecting that China’s e-commerce market has gone from $74 billion in 2010 to $295 billion by the end of 2013, with a projected total of $713 billion by 2017. The Hong Kong broker CLSA says that 80% of China’s online shopping is done through Alibaba. (Forbes)
Alibaba to set up R&D center in Israel
Chinese e-commerce juggernaut Alibaba to build research and development center in Israel; move similar to those of Amazon, Ebay, Paypal, Google and Microsoft, all of whom have branched out to Israel; overall, Alibaba to invest $ 15M in 8 centers all over the world, focusing on AI, quantum computing and fintech.
China’s top e-commerce firm, Alibaba Group Holding Ltd, is launching a $15 billion drive to build overseas research hubs as the deep-pocketed firm looks to compete with global leaders in e-commerce, logistics and cloud technology, including one in Israel. Additional R&D centers are to be built in China, the US, Russia and Singapore. This according to a statement by the company on Wednesday.
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Mahou Shoujo
5 years ago
The Chinese are in the market to do business and make a profit. American and western europeans should know that.
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