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ECONOMY
THIS WEEK> THIS WEEK NO. 43, 2014> ECONOMY
UPDATED: October 20, 2014 NO. 43 OCTOBER 23, 2014
Global Ambition
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On October 13, Tmall International, a B2C platform launched by China's e-commerce giant Alibaba Group for overseas shoppers, announced that it will offer free delivery worldwide for products ordered on November 11, an annual day of online shopping promotions in China.

The move is part of Alibaba's overseas business expansion strategy after its New York initial public offering on September 19, which raised $25 billion and made Alibaba the world's second-largest Internet company in market value.

The only goods not included in the free delivery deal for the Double 11 Shopping Festival will be very large items.

Tmall International, launched on February 19, has attracted thousands of global brands to set up stores on it.

Online marketplaces Tmall and Taobao, both owned by Alibaba, saw transactions totaling 35 billion yuan ($5.7 billion) during last year's Double 11 Shopping Spree, the Chinese equivalent of Cyber Monday.



 
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