Hangzhou,
3rd December: Chinese e-commerce giant, the
Alibaba
Group, announced the sales volume through its various marketplace platforms,
including Taobao and Tmall, surpassed RMB 1 trillion (US$157
billion) from January to November this year. This figure surpasses the combined
transaction value of other e-commerce leaders, Amazon
and eBay.
Earlier this year, Alibaba recorded US$3
billion in sales transactions in a single day from its marketplaces. All
payments are handled by Alipay, Alibaba’s payment processor which has more than
700 million registered users.
According to Alibaba, e-commerce in China’s
third and fourth-tier cities grew 60% year-on-year in 2012. The company
predicts total volume of sales within its marketplaces will be RMB 3 trillion
(US$471 billion) in 2017.
Alibaba’s chairman and CEO Jack Ma said in
a company statement, “It’s very likely that next year our transaction volume
will be bigger than all the American e-commerce companies combined.”
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