The Traderszone Network

Published in TZ Latest News 15 January, 2015 by The TZ Newswire Staff

Alibaba in major initiative to court China consumer for U.S. retailers

SAN FRANCISCO/BEIJING/SHANGHAI (Reuters) – China’s Alibaba Group Holding Ltd (BABA.N) plans a major move to win U.S. business this year, by offering American retailers new ways to sell to China’s vast and growing middle class. Anchored by Alipay, the dominant Chinese electronic payments system that works closely with Alibaba and is controlled by its executives, the world’s largest Internet retailer is using the calling card of China’s consumers to attract U.S. partners, two sources close to the company told Reuters.

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