ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
China tech

Alibaba CEO shuns low-price competition as profit roars back

Chinese e-commerce group posts first net income growth since 2020 after cutting costs

Alibaba has delayed plans to upgrade its Hong Kong listing status from a secondary to a primary listing amid growing Sino-U.S. tensions.   © Reuters

HONG KONG -- Alibaba Chairman and CEO Daniel Zhang said Thursday that the low-price strategies pursued by some online retaliers are not sustainable, as rival is set to spend billions of yuan on a subsidy program for merchants in a price war with Pinduoduo.

"We haven't been a low-price competitor," Zhang said in a conference call after the Chinese e-commerce group reported its first quarterly profit growth since 2020. "We haven't been relying on heavy subsidies. We haven't been engaged in low-level competition."

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more