Alibaba strikes it rich

Alibaba.com yesterday said the global economic slowdown is unlikely to have a great impact on the company's business performance this year.

Releasing the annual results, Wei Zhe, CEO of Alibaba.com, said the company will continue to see dynamic growth this year despite the uncertainties in the world economy.

"I think we will maintain fast growth this year because people in difficulties tend to diversify their product sourcing and supply in order to reduce risks," he said. "I think e-commerce could help them do that better on a global scale."