Alibaba put RMB10b into Guangzhou last year

Online behemoth Alibaba put more than RMB10b into Guangzhou last year, investing in no fewer than 44 companies. This is according to Guo Jijun, vice president of Alibaba Group, who was speaking at this week’s 2019 Guangzhou Annual Investment Conference. The Hangzhou-based company paid more than RMB1.1 billion in tax to the city last year, reports the 21st Business Herald.

“Guangzhou has become a very important base for Alibaba,” Guo said. The group has already chosen the city for the headquarters of its mobile internet and industrial internet divisions, and it is the southern base of Alibaba Health. The group plans to further expand in Guangzhou, using the city as a base for its development plans in the region.

Guo said Guangzhou has already shown how important its consumer market is to Alibaba’s current and future growth. During last year’s November 11 “Singles’ Day” shopping festival, the group’s logistics arm, Cainiao, handled more than one billion order packages nationwide, of which about 100 million came from Guangzhou.

Alibaba Cloud has been serving many enterprises in the Guangzhou region, Guo added.  “What we’ve seen is a very pro-active drive of the city,” Guo said. “We believe with the expansion of [this] industrial value chain, the city’s entire economy will benefit.”