Alibaba�s online sales jump despite slowing China growth

AFP, SHANGHAI: Transactions on the platforms of Chinese e-commerce giant Alibaba surged 28 per cent in the September quarter, the company said yesterday, despite slowing growth in the world’s second-largest economy.
Alibaba’s closely-watched gross merchandise volume (GMV) -- a measure of value for online sales—was $112 billion (713 billion yuan) in the three months ended in September, the company said in a statement.
“This was a great quarter for Alibaba Group, with strong growth across the board and particular out-performance in mobile,” said Alibaba chief executive officer Daniel Zhang.
After years of breakneck growth, China’s Communist leaders are looking to transition the economy to a “new normal” of slower and more sustainable expansion driven by consumer demand rather than the investment and exports of the past.

Alibaba�s online sales jump despite slowing China growth

AFP, SHANGHAI: Transactions on the platforms of Chinese e-commerce giant Alibaba surged 28 per cent in the September quarter, the company said yesterday, despite slowing growth in the worlds second-largest economy. Alibabas closely-watched gross merchandise volume (GMV) -- a measure of value for online saleswas $112 billion (713 billion yuan) in the three months ended in September, the company said in a statement. This was a great quarter for Alibaba Group, with strong growth across the board and particular out-performance in mobile, said Alibaba chief executive officer Daniel Zhang. After years of breakneck growth, Chinas Communist leaders are looking to transition the economy to a new normal of slower and more sustainable expansion driven by consumer demand rather than the investment and exports of the past.