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BABA-W Intends to Pour More Resources Into Taobao Instant Commerce This Yr
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During an investor meeting, BABA-W (09988.HK) revealed that Taobao Instant Commerce had made milestone progress in the latest quarter, and more resources will be allocated to it this year, according to Chinese media reports. BABA-W asserted that the primary goal is to expand Taobao Instant Commerce's market share until it seizes the top spot in the instant retail market. Management also said the group will prioritize merchant and user subsidies over short-term profits over the next two years. AAStocks Financial News |
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