Alibaba pledges to import $200bn international goods to China

Alibaba has announced that it will help import $200bn worth of goods from over 120 countries over the next five years. This forms part of the company’s long-term commitment to globalisation and to meet the increasing demand of its Chinese customers for high quality international goods. The plan was unveiled at its Global Import Leadership Summit held at the China International Import Expo in Shanghai.

As China’s middle class continues to grow, its consumers are demanding a wider variety of high-quality products sourced internationally. According to a joint report by Deloitte China and AliResearch, the proportion of imports to total e-commerce sales has grown from 1.6% in 2014 to 10.2% in 2017. This has increased the number of shoppers by ten-fold on Alibaba’s dedicated platform for cross-border shopping, Tmall Global.

“Globalization is one of Alibaba’s most critical long-term growth strategies. We are building the future infrastructure of commerce to realize a globalized digital economy where trade is possible for every country around the world,” said Daniel Zhang, CEO of Alibaba Group. “Leveraging Alibaba’s innovative technology and robust ecosystem, we are committed to making global trade more inclusive and fulfilling our mission ‘to make it easy to do business anywhere’ in the digital era.”

Source: Alibaba Group