Ma urges to push for 'Five Big New Trends'

Alibaba Group Holding Ltd announced on Tuesday the establishment of a special committee to integrate resources and oversee the emerging consumption trends of new retail, new manufacturing, new finance, new technology and new energy.

The new committee, which the company said "has pulled in unprecedented forces", underlies its ambition to address the growth rate slowdown in pure online shopping, take bolder steps to revolutionize the retail landscape, and secure the gigantic eco-system it has built thus far.

The committee will include top-tier executives from Alibaba, with CEO Daniel Zhang leading, and Eric Jing, head of payment affiliate Ant Financial Services Group, as vice-chair. Other members include key figures across its logistics arm Cainiao, cloud computing unit AliCloud, and the Tmall and Taobao marketplaces.