KUALA LUMPUR, July 10 — Alibaba Group Holding Ltd has targeted to serve more than one billion consumers in China and facilitate more than 10 trillion renminbi (1 Chinese yuan=RM0.61) of consumption on its platforms in the next five years.

Chairman and chief executive officer Daniel Zhang said the company would continue to pursue three strategic pillars of globalisation, China domestic consumption and big data powered by cloud computing.

“Globalisation is our long-term battle, Chinese domestic consumption is our cornerstone battle and big data powered by cloud computing is our battle for the future,” he said in a statement today.

Alibaba Group has also charted its long-term goal — to achieve two billion consumers globally, create 100 million jobs and provide the necessary infrastructure to support 10 million small businesses to become profitable on its platforms by 2036.

Zhang said during the past fiscal year, despite the impact of the COVID-19 pandemic, Alibaba still delivered on a strategic goal established five years ago, which was to surpass US$1 trillion (US$1=RM4.26) in gross merchandise value. 

“This was an important milestone for Alibaba especially in the context of US$6 trillion in total annual retail sales of consumer goods in China today.

“Our next goal is to serve more than one billion consumers in China and facilitate more than 10 trillion renminbi of consumption on our platforms in the next five years as we continue on the path of globalisation,” he added.

He said Alibaba Group owed its growth and development over the past 20 years to society and the company believed the best way to show its gratitude is to help address the challenges that they collectively face and drive progress to the benefit of the whole society.

“This past year, we also celebrated a series of momentous events. Alibaba migrated its core system onto the public cloud, paving the way to build a cloud-native infrastructure for the future. We came home to Hong Kong for a secondary listing.

“True creativity is original. Alibaba prioritised self-innovation and incubation of new ideas above all else over the past 20 years. From Taobao to Alipay to Cainiao to Alibaba Cloud, from DingTalk to Freshippo to Taobao Live, all of these new ‘animals’ helped to improve the lives of consumers, advance the development of commerce and drive progress in society,” he said.

Alibaba’s ultimate goal, he said, is to create value for society and help find solutions for society’s challenges and to convert the group’s resources into fuel for small and medium businesses, which will in turn support the advancement of the whole society.

“On the eve of our 20th anniversary, we laid out our vision to be a good company for 102 years. We are standing at an important intersection in history and our mission is being tested,” he added.


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