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Asia300

Alibaba touts growth beyond China as revenue surges

CEO says big Southeast Asian investments pave way for e-commerce group's globalization

The logo of Alibaba Group is seen at the company's headquarters in Hangzhou, China.
The logo of Alibaba Group is seen at the company's headquarters in Hangzhou, China.   © Reuters

Chinese e-commerce leader Alibaba Group Holding reported a big jump in quarterly revenue on Aug. 23 and said it aims to build a global business starting in Asia, even as a new exchange of tariffs escalated the U.S.-China trade war.

The New York-listed company posted revenue of 80.92 billion yuan ($11.8 billion) for the April-June quarter, a 61% increase on the year, thanks to robust Chinese domestic demand.

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