[photopress:Jack_Ma_1.jpg,full,alignright]Alibaba.com will invest RMB10 billion ($1.3 billion) in the next three to five years to expand and integrate. It will extend to become an industry chain which can help small companies to effect overseas sales.
The money will be invested not only within Alibaba but also to improve external projects like logistics to extend the the e-commerce infrastructure and support industry.
Jack Ma, founder and chief executive, said, ‘In the next few years we will be devoted to the industry’s development to build a favorable environment and ‘an ecological chain’ to go with it.’ Jack Ma said the money will be used for big reforms of the e-commerce industry chain.
Tao Ran, a spokesman for Hangzhou, Zhejiang Province-based Alibaba, explained yesterday that the investment is for the overall industry, with their own businesses part of it.
Alibaba has teamed up with banks in China to extend the online payment service, Alipay.com, and worked with China Post to penetrate underdeveloped rural e-commerce regions.
Wei Zhe, who is in charge of Alibaba’s B2B business, said the group will continue its expansion outside the Chinese mainland, with the next steps to enter Taiwan and Japan. It has already set up a presence in Hong Kong. Or illustration shows Jack Ma giving the situation most careful thought. He need not worry. It is a logic progression of the business. The future is very bright.
Source: Shanghai Daily