Alibaba keeps focus on China despite the economic slowdown

Mainland e-commerce giant Alibaba Group said China would remain its focus for the next three years and its operations were not affected by the slowing economic growth on the mainland.

"When the economy is slowing, people want to buy cheap," said Zeng Ming, chief strategy officer for the group.

Year-to-date growth was strong, said Zeng, and sales for Taobao Marketplace, the group's consumer-to-consumer online shopping subsidiary, and business-to-consumer unit Tmall, would be more than 1 trillion yuan (HK$1.22 trillion) by the end of the year.

via Business feed http://www.scmp.com/business/china-business/article/1032989/alibaba-keeps-focus-china-despite-economic-slowdown