You are here: Home » Companies » News
Business Standard

Alibaba Group to offer $144 million in subsidies as shopping suffers

Alibaba's announcement comes as the e-commerce giant wrestles with depressed consumer spending in China

Reuters  |  Shanghai 

Photo: Bloomberg
Alibaba's announcement comes as the e-commerce giant wrestles with depressed consumer spending in China

China's will provide 1 billion yuan ($144 million) in spending subsidies for a March online shopping festival to counter the impact of the outbreak.

Alibaba's announcement, made in a social media post on Thursday, comes as the e-commerce giant wrestles with depressed consumer spending in China, which is in a state of semi-quarantine as a result of the epidemic.

First Published: Thu, March 05 2020. 19:26 IST
RECOMMENDED FOR YOU