Xinhua — Alibaba tops Amazon as biggest e-commerce company

Milestones

Chinese e-commerce giant Alibaba surpassed its U.S. counterpart Amazon as the world's biggest e-commerce company Tuesday as the Hangzhou-based company reached the threshold of 470 billion U.S. dollars in market value.…

Alibaba's net profit jumped 96 percent to more than 2.1 billion dollars year-on-year in the first fiscal quarter ending June, beating market expectations.

Moreover, the number of active buyers on Alibaba's retail platform climbed to 466 million, accounting for about one third of the Chinese population.

And China is still a poor country.

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Alibaba tops Amazon as biggest e-commerce companyXinhua