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Companies

Alibaba chief pledges to import $200bn in goods over 5 years

Announcement comes a day after Xi Jinping endorses cross-border e-commerce

Alibaba CEO Daniel Zhang said the company will use its e-commerce platforms to bring more goods from overseas into China.   © Reuters

SHANGHAI -- Alibaba Group Holding said on Tuesday it will list $200 billion worth of imported goods on its e-commerce platforms from 2019 to 2023 as the government vows to boost imports and open markets while engaged in a trade war with the U.S.

"Globalization is one of Alibaba's most-critical long-term growth strategies," said CEO Daniel Zhang, who announced the plan at the company's Global Import Leadership Summit being held alongside the China International Import Expo here.

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