Alibaba To Continue To Invest Aggressively
Chinese e-commerce giant Alibaba Group Holding Ltd will continue to invest aggressively despite an uncertain business environment, a senior company executive said at a Reuters BreakingViews event on Friday.
Alibaba's executive vice-chairman Joe Tsai struck an optimistic note about China and said people were over worried about the country's economy, adding that Chinese consumers were still fundamentally very strong.
The comments from Tsai come at a time when China's economy has seen growth plumb the lowest in nearly three decades amid faltering domestic demand and bruising US tariffs.
In December of last year, the online retailer signed a deal to open a 'smart logistics hub' at Liege Airport in Belgium to develop a more inclusive and innovative trade platform, that will facilitate greater and more equitable access to cross-border trade opportunities, in particular for SMEs.