Actionable news
0
All posts from Actionable news
Actionable news in BABA: ALIBABA GROUP HOLDING LIMITED,

Alibaba to Open Offices in Europe as U.S. Expansion Continues

Alibaba Group Holding Ltd. will open offices in three European countries and expand further in the U.S. as it seeks to revive growth and reassure jittery investors.

China’s biggest e-commerce operator will enter France, Italy and Germany within the next few months, President Michael Evans said at Alibaba’s headquarters in Hangzhou Tuesday.

With a slowing domestic economy, Alibaba is stepping up its global ambitions to turn around investor sentiment battered by a $117 billion slide in market value since November. With less than a month until Singles’ Day, the busiest shopping promotion on the Chinese calendar, the company is looking to lure global merchants to sell to the country’s rising middle class.

“China should shift from exporting to importing,” Chairman Jack Ma said...


More