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More Squawk From Jim Cramer: Alibaba (BABA) Q4 Shows Strong Chinese Consumer Spending

NEW YORK (TheStreet) -- Alibaba (BABA - Get Report) stock is advancing 3.89% to $78.77 in mid-morning trading on Thursday after the Chinese e-commerce company reported strong revenue growth for the fiscal 2016 fourth quarter, signaling that Chinese consumer spending is better than expected, according to TheStreet's Jim Cramer.

"The real take-away is that China's consumer spending is really good," Cramer said on CNBC's "Squawk on the Street."

Alibaba's quarterly revenue jumped 39% year-over-year to $3.75 billion driven by a 41% hike in Chinese retail marketplaces revenue.

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