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Alibaba hits $31bn mark

Nov 12. 2018
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By The Nation

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Alibaba Group Holding Ltd generated RMB213.5 billion (US$30.8 billion) in gross merchandise volume (GMV) on November 11, an increase of 27 per cent over 2017.

“Today we witnessed the strength and rise of China’s consumption economy and consumers’ continued pursuit to upgrade their everyday lifestyles,” CEO Daniel Zhang said on Monday. 

“Participation from the entire Alibaba ecosystem enabled our brand and merchant partners to engage with consumers like never before. Looking ahead, Alibaba will continue to lead the evolution towards the future digital economy and lifestyle,” he added.

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