Alibaba endeavors to reinvigorate heritage brands following Pinduoduo

In the wake of the announcement by Pinduoduo in ally with Shanghai municipal government, which aims at shoring up heritage domestic brands that are in decline, Alibaba publicized a similar promotion initiative enlisting cross-border and international-facing e-commerce platform to assist Shanghai brands in realization of an annual sales goal of more than RMB 100 million ($14.8 million) each. The action goes in line with the commitment it made in November at the state-backed China International Import Expo, claiming Alibaba is in efforts of bringing $200 billion worth of international goods into China over the next five years.