Alibaba vows $200b in intl orders

Alibaba Group pledged on Tuesday to help import $200 billion worth of goods from more than 120 countries and regions over the next five years, as the country's top e-commerce player boosts its efforts to meet rising demand in China for high-quality international products.

Between 2019 and 2023, the company will help import international goods from businesses of all sizes in countries and regions including Germany, Japan, Australia, the United States and South Korea, it said during the ongoing China International Import Expo in Shanghai.

"Globalization is one of Alibaba's most critical long-term growth strategies," the company's CEO, Daniel Zhang, said. "We are building the future infrastructure of commerce to realize a globalized digital economy where trade is possible for every country around the world."