BUSINESS Alibaba's trade platforms attract over 68M companies worldwide

BUSINESS

Alibaba's trade platforms attract over 68M companies worldwide

Xinhua

14:02, October 01, 2020

Photo taken on Sept. 7, 2019 shows a logo of Rwanda Digital Trading Hub of Alibaba Electronic World Trade Platform (eWTP) Yiwu Global Innovation Center at Kigali Logistics Platform in Kigali, Rwanda. (Photo: Xinhua)

The trade platforms of Chinese e-commerce giant Alibaba Group have attracted over 68 million small and medium-sized enterprises (SMEs) from more than 200 countries and regions, the company said at an event.

Alibaba Group made its comments at the 2020 Investor Day, which ran from Monday to Wednesday in Hangzhou, capital of east China's Zhejiang Province. The company said its two trade platforms -- Alibaba.com and 1688.com, which respectively focus on foreign trade and domestic trade -- have seen rapid development since 1999.

The average daily number of buyers on Alibaba.com increased by 100 percent year-on-year in June, and that of 1688.com by 50 percent.

The company has launched a digital trading system that will open up a huge online marketplace for SMEs around the world, said Trudy Dai, president of Alibaba Group's B2B Business.

Its foreign trade platform Alibaba.com provides a series of services such as multi-currency payment to solve trust and security problems in cross-border trade, along with other one-stop services related to customs clearance, foreign exchange settlement, logistics, finance and taxation.

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