Economy

200 billion dollars to import international products

200 billion dollars to import international productsAlibaba Group announced its commitment to help import $ 200 billion worth of products from more than 120 countries over the next five years, underlining the company's long-term commitment to globalization and boosting its efforts to meet growing demand of Chinese consumers of high-quality international products.

"Globalization is one of the most critical long-term growth strategies of Alibaba, we are building the future trade infrastructure to achieve a globalized digital economy where trade is possible for all countries of the world," said Daniel Zhang, CEO of Alibaba. Alibaba Group. "Leveraging Alibaba's innovative technology and robust ecosystem, we are committed to making global commerce more inclusive and fulfilling our mission" to make it easy to do business anywhere "in the digital age."

The company revealed its goal of importing $ 200 billion into the Global Import Leadership Summit held at the first China International Import Expo in Shanghai. Between 2019 and 2023, Alibaba will help import international products from companies of all sizes in important countries such as Germany, Japan, Australia, USA. UU and South Korea.

Several global brands, including P & G, Nestlé, JBS and Refa, promoted their holistic association with the entire Alibaba ecosystem. By collaborating with several Alibaba business units, these brands have been able to interact effectively with China's massive middle class, a driving force driving China's consumption growth.

"China's middle class is booming - as incomes rise in China, consumers want faster access and a wider variety of high-quality products from around the world," said Alvin Liu, Tmall's General Manager Import and Export. "Tmall is in a unique position to help international brands take advantage of China's growing market as consumers seek to improve their lifestyle."

According to a joint report by Deloitte China, the China International Chamber of Commerce and AliResearch, China's strong economic growth in recent years has increased the number of middle-to-high-income Chinese consumers, which are fueling demand for imported products and quality. . The report notes that China's cross-border e-commerce market has grown remarkably, as the share of imports with respect to total e-commerce sales grew from 1.6% in 2014 to 10.2% in 2017. The report also highlights that, between 2014 and 2017, the number of buyers in the dedicated Alibaba platform for cross-border purchases, Tmall Global, has multiplied tenfold.

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