Alibaba buoyed by surge in China consumer spending
November 2, 2017
Alibaba’s aggressive operational investments and acquisitions appear to be paying off. The Chinese e-commerce company, the country’s largest, has raised its full-year revenue growth forecast from 49 to 53 percent. The company recently acquired a major logistics firm, Cainiao, and is reportedly investing billions in improvements to attract more shoppers while it seeks out new sectors for growth.
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