Retail in Asia

In Trends

Alibaba ramps up support for small businesses

Alibaba Group, China’s largest e-commerce company, said it will foster 1 million small online vendors with an average revenue of over CNY1 million (USD158,730) a year as the company moves to build a platform for online vendors instead of serving consumers by itself.

According to Alibaba President Jack Ma, the company will make more online tools and services available to small business owners next year and help them better serve consumers.

He also said Alibaba’s next major strategy is to offer financial services for cash-tight small business.
 

(Source: Shanghai Daily )