Alibaba’s profits are beyond expectation and indicate a still growing economy

Alibaba Holding Group beat Wall Street analysts’ expectation for net profit in its end-of-year quarter, reporting $4.5 billion (RMB 30.964 billion). It was generally seen as a strong signal of a still thriving economy within the China’s market, and the report highlighted a huge growth in the cloud computing industry and a record sales breakthrough during November’s Singles’ Day carnival – when over 40 percent of Chinese consumers made purchases from international brands, also some overseas consumers were attracted to spend on the platform, Alibaba still holds great faith in the expansion, citing the CEO Daniel Zhang, “if we can make China the complete market in the right conditions, it’s a self-sufficient market.”