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What is Alibaba?

(People's Daily Online)    11:12, April 01, 2015

Ma Yun at New York Stock Exchange. (Photo/Xinhuanet) 

Alibaba, a household name of great repute...

Alibaba, a world-renowned enterprise...

Alibaba is the biggest e-commerce company in the world, the e-commerce business leader of the fastest-growing market in the world, a company with an annual turnover exceeding the combined total of Amazon and Ebay, and the largest IPO in the world…

But this is not all of it.

Alibaba is a story of Chinese people making their fortune and creating careers, a story of connecting foreign brands with Chinese consumers, and a story of foreign consumers taking Chinese brands to their hearts.

Financial innovation — let all the people enjoy wealth increment and easy money management

Alipay initially created a third-party online payment solution, broke the bottleneck of e-commerce development, and became the thought leader in the history of e-commerce. And its "brother" Yu'ebao has also helped to contribute more to the achievement.

Making money management easier and accessible; helping everyone to make a little more money is the idea rooted in Alibaba's puhui finance. Though Ant Financial, which owns brands like the Alipay and Yu'ebao, has been independent from Alibaba since February 2015, Alibaba’s creative gene is still locked inside it.

E-commerce covers rural areas — opens the gate to rural consumption and marketing

In October 2014, Alibaba launched a new project - "Ten Thousand Counties and Villages" - announcing that it would invest 10 billion yuan over 3 to 5 years to provide e-commerce coverage to one-third of China's counties and one-sixth of the villages.

Wang Zhiqiang used to be a Beijing drifter 7 years of hard work had paid him little in return. In 2006, he came back to his home town and opened an online shop for green, pollution-free agricultural products. Now he is one of the most famous e-businessman in Shanxi. He has his own e-commerce company and became one of the 8 individuals who told the world their stories when Alibaba launched on the New York Stock Exchange.

Alibaba is not an abstract concept, but a concrete model that has changed the production and distribution network of the whole world.


(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Editor:Yao Xinyu,Gao Yinan)

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