To counter the slower economic growth in China, Alibaba has turned its attention to regions abroad. It seeks rapid expansion in the United States and wants to offer its online services in Europe soon.
Offices in Italy, France and Germany
The Chinese internet giant Alibaba will come to Europe, president Michael Evans confirmed during a Singles Day conference. That day, 11 November, is Alibaba's traditional highlight of the year, with record turnover.
In the upcoming months, the group will open offices in Italy, France and Germany and it also wants to speed up its growth in the United States and Asia. It needs this boost to counter slower growth in its Chinese home market, as China is in an economic dip while Alibaba seems to near its peak over there.
It still remains to be seen whether Alibaba will open an office in Brussels, although CEO Jack Ma promised to do so when he met King Filip on his official state visit to China.