(MENAFN) The giant Chinese e-commerce Alibaba announced it will launch a new headquarters northwest the country in Xi'an, to provide more support for the development of western China and the Belt and Road Initiative.
During the World Xi'an Entrepreneurs Convention on Saturday, the announcement was made by Alibaba's chairman Ma Yun.
According to a press release by Alibaba, Ma said that it is an important city in northwest China and the starting point of ancient Silk Road, Alibaba looks forward to be involved in the city's development.
Earlier, Alibaba had announced its quarterly profits, as net profit increased 96% to more than USD2.1bln year on year in the first fiscal quarter ending in June.
MENAFN2008201700450000ID1095750582
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.