Home / Business / Technology & Telecom Tools: Save | Print | E-mail | Most Read | Comment
Credit crunch may aid sales on Alibaba.com
Adjust font size:

The United States subprime mortgage crisis won't hurt growth at Alibaba.com - and may even help small and medium e-commerce firms win more deals, said Chief Executive Officer David Wei.

He also urged Chinese exporters to capture business potential in markets such as Japan, India and Russia to offset the impact caused by the weaker US dollar.

"The US slowdown is mainly affecting large buyers and suppliers, so in this regard, small and medium players will have more opportunities," Wei said.

The number of US buyers purchasing consumer goods is growing fast, and in some sectors, inquiries from US buyers have risen 50 percent over the past six months, he said after a forum on Chinese exports via e-commerce last Friday in Shanghai.

Hangzhou-based Alibaba, founded in 1999, is a leading online marketplace for international and domestic trade by providing a platform for connecting small and medium buyers and suppliers.

Its shares started trading in Hong Kong in November last year. Alibaba today has more than 24 million members worldwide, among which 21 million are from China's mainland.

Wei said small and medium Chinese manufacturers, suffering from the rising yuan, cuts in export rebates and inflationary pressure, shouldn't confine themselves to traditional Western markets. Emerging areas, especially Japan, would be key future growth engines, he predicted.

Japan is so important because it has about 4.3 million small and medium companies and a high population of Internet users.

To tap this market, Alibaba launched a Japanese-language site late last year, Wei said. Alibaba had formed a venture with Japanese partner Softbank Corp to run the Website, in which Alibaba holds a minority stake.

(Shanghai Daily March 10, 2008)

Tools: Save | Print | E-mail | Most Read
Pet Name
China Archives
Related >>
- Jack Ma: Alibaba to maintain its independence
- Alibaba spends greatly on training
- Baidu, Alibaba rank top 10 search engines
- Alibaba to offer CCB loans to online sellers
- A new round of power shifts inside Alibaba
- Open sesame: Alibaba enters net advertising
- Alibaba soars 192% in HK
Most Viewed >>
- Jim Rogers: Don't sell Chinese stocks
- Per capita housing space triples in 20 years
- Wholesale prices up 9.2% in Feb
- China Huaneng the winner in race to buy Tuas Power
- Dalian exchange set to hog futures

May 15-17 Shanghai Women's Forum Asia

Dec. 12-13 Beijing China-US Strategic Economic Dialogue

Nov. 27-28 Beijing China-EU Summit

- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?