Alibaba sales surge amid China’s ‘rapid’ Covid-19 recovery
Alibaba has posted a spike in sales during the final quarter of 2020 following the “rapid recovery” of the Chinese economy in the wake of Covid-19.
The Chinese ecommerce giant enjoyed a 37% uplift in revenues to 221bn yuan (£25bn) in the last three months of the year, compared with the same period in 2019.
Sales in the group’s core commerce division jumped 38% to 195.5bn yuan (£22.2bn), with retail sales in China soaring 39% to 153.7bn yuan (£17.4bn).
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