AliBaba Group (NYSE: BABA) announced their economic figures in a press conference during the first China International Import Exposition in Shanghai on November 6th. The company plans to import US products worth 200 billion USD in the next 5 years.
This "great import strategy" for the next 5 years also covers subsidiary companies such as Tmall, Tmall International, B2B, Hema, Yunxiang, Yintai, RT Mart, and other retail companies of the AliBaba Group.
AliBaba organised a Global Import Summit during the exposition, which was attended by more than 20 government representatives from Spain, Canada, Belgium, Brazil, Ecuador, and others, as well as representatives from international organizations, and board chairs of leading companies in China and abroad. They discussed key issues in the industry such as international import, retail, globalized supply chain innovation, and digital economy.
Globalization is one of the three key strategies of AliBaba Group, which provides services to more than 600 million consumers.