Chinese e-commerce giant Alibaba Group Holding Ltd’s (BABA.N) second-quarter revenue growth is likely to have slumped to half the year-earlier rate, undermining hopes consumer spending will temper a slowdown in the world’s second-biggest economy. Beijing is hoping that private consumption will pick up the slack as exports fall and it tries to rebalance the economy – now heading for its slowest full-year growth in 25 years – away from a reliance on trade and government spending. “Much focus will be paid to the deceleration in volume growth Alibaba guided to mid-quarter.