ESPN Crikey headline The sale of Alibaba Group Holding LLC is a ‘significant boost’ for the economy , says the Economist article A major Chinese e-commerce firm is set to become the third largest listed company in the world.
Alibaba Group Holdings, the Chinese conglomerate that controls the world’s largest online shopping and commerce company Alibaba Group, has agreed to sell its Alibaba Group online shopping business to a Canadian-based private equity firm for $2.6 billion.
It is the largest deal in China since the sale to Japanese firm Shintai International in 2013.
The sale of China’s biggest online shopping firm, and the biggest e-retailer in the country, is a huge coup for the province of Guangdong and for Canadian investors in Alibaba.
It will also mark a major boost for the provincial government in China, which was widely seen as the front-runner to win the auction of Alibaba in July, after winning bids from Canadian firms including TD Bank, UBS, Citigroup and JPMorgan.
It also means the Chinese ecommerce sector is likely to see a dramatic shift in fortunes over the next few years.
Alibaba Group was valued at more than $11 billion in 2014 and was valued more than half a trillion yuan ($19 billion) by the Bloomberg Billionaires Index in 2020.
But it is likely the deal is going to change things for Alibaba, which is currently embroiled in a massive legal battle with the Chinese government over control of its online shopping services.
The deal will also be a major victory for Alibaba Group Chairman Jack Ma, who is seen as China’s rising political figure.
He was appointed chairman in May of this year, but has struggled to regain the trust of the Chinese public and investors.
Albion Group Holding is now the biggest online retailer in China and is also one of the biggest players in the Asian market.
Alibaba owns a majority stake in Alibaba Group.
The company is currently seeking a buyer for its Alibaba group, which it has long coveted, but the deal will give it an opportunity to boost its business and compete more directly with the dominant online shopping platforms such as Amazon.
The move comes at a time when the Chinese economy is struggling to recover from the severe downturn of the global financial crisis, which hit China’s economy in early 2015.
The online shopping sector in China is the second-largest economy in the global after the United States.
It is estimated to account for about 40 per cent of China-owned GDP.
The province of China, the world’ second-biggest economy, was the biggest loser from the financial crisis.
It had a GDP growth rate of 7.3 per cent last year and is forecast to be the second worst performing economy in Asia next year.
Its economy is also under pressure as it struggles to attract foreign investors to its economy as foreign capital flows into the country are lower than in the US and Europe.
The Alibaba deal, if approved by the Chinese authorities, will make it easier for the Chinese to access private capital to help fund infrastructure and industrial projects.
It has already announced a $5.7 billion loan to the state-owned China National Petroleum Corporation to build a new oil refinery in China.
Alphabet Inc has also invested in China’s e-tailer Alibaba Group with the aim of creating a fully integrated e-marketplace where consumers and sellers can find products and services.
In June, Alibaba bought a majority share in e-cigarette company e-Juice, a joint venture between e-juice maker Watsons and US e-cig manufacturer Newport Smoke.
Alibaba also owns a stake in ecommerce platform Snapdeal, which has more than 1 billion users in China.(AP: Alex Brandon)Alibaba has also said it will invest $2 billion in eCommerce and has launched an e-payment platform called Taobao.
The e-payment company, which aims to simplify transactions and improve the experience for consumers, is expected to start operations in 2018.
China has struggled since the financial crash to build up its e-business to compete with the likes of Amazon and eBay.
The e-trade sector in the mainland is still dominated by big e-shopping giants such as Alibaba, but smaller players have emerged.
Album sales and e-stores, for example, account for roughly one-fifth of total sales in China but account for nearly 70 per cent, according to the National Bureau of Statistics.
The country is also known for its online marketplaces such as Taobai and Taobian that cater to both local and international consumers.
China’s government is also heavily invested in the e-tech sector, particularly in artificial intelligence and artificial intelligence-based services.
Alma Maizi, an assistant professor at the University of Toronto’s Rotman School of Management, said the Alibaba deal would create a lot of wealth for Alibaba.
“The Alibaba Group will be able to leverage its vast experience in e commerce and