China’s Alibaba Group Holding Ltd plans a major move to win US business this year, by offering American retailers new ways to sell to China’s vast and growing middle class. Anchored by Alipay, the dominant Chinese electronic payments system that works closely with Alibaba and is controlled by its executives, the world’s largest Internet retailer is using China’s consumers to attract US partners, two sources close to the company told Reuters.
(Source: The Malaysian Insider)