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Alibaba has reportedly racked up US$30.8 billion of gross merchandise volume (GMV) sales in a single day during its annual 11:11 Global Shopping Festival, with Aussie brands among the bestsellers.
Alibaba has promised to focus on importing more goods from countries like Australia and the US, in a bid to supply Chinese consumers with a larger range of quality products.
Alibaba has announced its results for the September 2018 quarter, affirming Jack Ma’s statements that Alibaba is still in a period of rapid, yet sustainable growth.
In preparation for the next wave of e-commerce, Alibaba has decided to invest more than $100 billion yuan (approximately AUD$20.5 billion) into smart logistics.