Alibaba and JD.com handled US$136.5bn of sales through their platforms during 6.18, an annual online shopping festival in China that runs from 1 st June to 20 th . Strong numbers show retail is recovering For 6.18, Alibaba achieved gross merchandise value (GMV) of CNY698.2bn (US$98.5bn), over double what it achieved on Singles Day (2020 11.11) last year, which posted record GMV of CN...

The annual 6.18 Mid-Year Shopping Festival was kicked off on 1 June, which is China’s largest online retail promotion since the outbreak of COVID-19. Equivalent to 11.11 Singles Day The event, which runs until 20 June, was launched by JD.com 17 years ago as the anniversary of JD.com. Since then, it has become an online shopping festival for major ecommerce players. It is the equivalent to...

Alibaba has posted its financial results for the fiscal year ended March 31, 2020. Total revenue was up 35% to CNY509,711m (US$71,985m) YoY. Robust top line figures for the fiscal year GMV transacted in the Alibaba Digital Economy was CNY7,053bn (US$1tn), CNY6,589bn (US$945bn) of which came from China retail marketplaces Core commerce revenue up 35% YoY to CNY436,104m (US$61,130m) ...