Home / Business / Technology

Alibaba to establish regional headquarters in Northwest China

Xinhua | Updated: 2017-08-21 09:55

Alibaba to establish regional headquarters in Northwest China

Two men chat beside a logo of Alibaba at its headquarters on the outskirts of Hangzhou, Zhejiang province. [Photo/Agencies]

XI'AN - China's e-commerce giant Alibaba will set up a northwest headquarters in Xi'an, capital of Shaanxi province, to better support the development of western China and the Belt and Road Initiative.

The decision was announced by Ma Yun, Alibaba's chairman, during the World Xi'an Entrepreneurs Convention on Saturday, according to a press release given by Alibaba.

It cited Ma as saying that Xi'an 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.

Cainiao Network Technology, Alibaba's courier aggregator, will increase its investment in Xi'an to boost economic restructuring and transformation of northwestern areas, the press release said.

Aliyun, Alibaba's cloud computing subsidiary, and Xi'an Jiaotong University will establish a big data college to train talent, it said.

On Thursday, Alibaba said that its net profit jumped 96 percent to more than 14 billion yuan ($2.1 billion) year on year in the first fiscal quarter ending June. The group's revenue was about 50 billion yuan in the quarter, up 56 percent year on year.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349