China’s economy may be slowing as consumers cut back, but Alibaba, the country’s leading ecommerce company, has seen its share price bounce up 8 per cent so far this year.
Alibaba’s revenue is more than 90 per cent domestic, and the company had a torrid 2018, saying in November that
revenues in the year to March will be Rmb375bn ($55.4bn) to Rmb383bn, at most a 53 per cent rise. It had previously expected a 60 per cent increase.
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