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Xinhua — Alibaba tops Amazon as biggest e-commerce company

Summary:
Milestones Chinese e-commerce giant Alibaba surpassed its U.S. counterpart Amazon as the world's biggest e-commerce company Tuesday as the Hangzhou-based company reached the threshold of 470 billion U.S. dollars in market value.… Alibaba's net profit jumped 96 percent to more than 2.1 billion dollars year-on-year in the first fiscal quarter ending June, beating market expectations. Moreover, the number of active buyers on Alibaba's retail platform climbed to 466 million, accounting for about one third of the Chinese population. And China is still a poor country.Ecns.cnAlibaba tops Amazon as biggest e-commerce companyXinhua

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Milestones
Chinese e-commerce giant Alibaba surpassed its U.S. counterpart Amazon as the world's biggest e-commerce company Tuesday as the Hangzhou-based company reached the threshold of 470 billion U.S. dollars in market value.…
Alibaba's net profit jumped 96 percent to more than 2.1 billion dollars year-on-year in the first fiscal quarter ending June, beating market expectations.
Moreover, the number of active buyers on Alibaba's retail platform climbed to 466 million, accounting for about one third of the Chinese population.
And China is still a poor country.

Ecns.cn
Alibaba tops Amazon as biggest e-commerce companyXinhua

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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