Alibaba Group to Set up Headquarters in Xi'an City to Support the Development under Belt and Road Initiative

Alibaba Group to Set up Headquarters in Xi'an City to Better Support the Development of Western China, and Belt and Road Initiative

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XI'AN, Aug. 20 : China's e-commerce giant Alibaba will set up a northwest headquarters in Xi'an, capital of Shaanxi Province, to better support the development of western China and the Belt and Road Initiative,Xinhua news reported. The decision was announced by Ma Yun, Alibaba's chairman, during the World Xi'an Entrepreneurs Convention on Saturday, according to a press release given by Alibaba. It cited Ma as saying that Xi'an is an important city in northwest China and the starting point of ancient Silk Road. Alibaba looks forward to be involved in the city's development.

Cainiao Network Technology, Alibaba's courier aggregator, will increase its investment in Xi'an to boost economic restructuring and transformation of northwestern areas, the press release said.

Aliyun, Alibaba's cloud computing subsidiary, and Xi'an Jiaotong University will establish a big data college to train talent, it said.

On Thursday, Alibaba said that its net profit jumped 96 percent to more than 14 billion yuan (2.1 billion U.S. dollars) year on year in the first fiscal quarter ending June. The group's revenue was about 50 billion yuan in the quarter, up 56 percent year on year.

Alibaba founder Jack Ma has has been promoting China’s ‘One Belt–One Road’ trade initiative and cooperation opportunities on several occasions.

“The greatest difference between the Belt and Road Initiative and general globalisation lies in the inclusion of young people, women, smaller enterprises and developing countries. It aims to reach more people. This is both a responsibility and an opportunity”.
Ma told media.

“Last year I spent more than 820 hours travelling all across the globe to gain insight into the world. It is important to be there, observe and think. We want to do something different. Instead of simply selling our products to Belt and Road countries or importing cheap labour and raw materials, we want to create jobs, stimulate overseas economies and improve people’s livelihoods”, he added.

With a population of more than 8 million people, Xi'an is the capital of Shaanxi Province of China. And the city was also the starting point of the Silk Road,linking  China, the Middle East and Europe. The hundreds of years of trade moving between China and the West helped forge lasting cultural links.