SHANGHAI (Reuters) – Alibaba Group Holding Ltd is emerging as one of China’s biggest corporate winners of the coronavirus crisis, gaining the opportunity to expand its businesses and solidify its status as a critical part of the country’s socio-economic engine.
FILE PHOTO: The logo of Alibaba Group is seen at the company’s headquarters in Hangzhou, Zhejiang province, China, Nov. 18, 2019. REUTERS/Aly Song/File Photo
While many companies are hurting from disruption caused by the virus, Alibaba has seen traffic at its online marketplaces shoot higher and demand grow for services like food delivery. Local authorities have even turned to its cloud business to build health-tracking apps.
The company, which emerged as China’s leading e-commerce company after the 2003 SARS outbreak, is now positioning itself as a hirer and a lender too, advertising for over 100,000 jobs and offering billions of dollars in loans to small and mid-sized enterprises (SMEs) at a time when many others are…
Source Reuters Tech News
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