As reported by the South China Morning Post, Alibaba Group Holding said it will help bring $200b worth of products from more than 120 countries into China over the next five years to help meet the rising demand of Chinese consumers for high-quality international goods.
Between 2019 and 2023, Alibaba will help import from businesses of all sizes in countries such as Germany, Japan, Australia, US, and South Korea, the Hangzhou, China-based company said in a statement. Alibaba’s pledge for step up imports comes a day after China’s president Xi Jinping made fresh promises to open the world’s second-biggest economy to the outside world, including lowering import tariffs and broadening market access, and voiced support for economic globalization.
As part of its commitment to boost imports into China, Alibaba has announced a strategic partnership with privately held Hong Kong trading group Fung Retailing. Other news and events
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