Alibaba expects to nearly double transactions volume to more than $900 billion by 2020

© Reuters. An indication of Alibaba Group is seen at CES Asia 2016 in Shanghai

(Reuters) – Chinese e-commerce giant Alibaba (NYSE:-RRB- Group Holding Ltd said on Tuesday it expects to almost double its transaction volumes by 2020, signalling it still expects widespread growth as Executive Chairman Jack Ma pledged to intensify a crackdown on fake goods. At a financier conference at its head office in Hangzhou, Zhejiang province, Alibaba said it expects to tape-record 6 trillion yuan ($912 billion) in gross merchandise volume (GMV) in financial 2020, nearly double 3.09 trillion yuan in financial 2016. Echoing that development, Ma said Alibaba expects to have 2 billion customers on its books by 2036, up from 423 million active purchasers in 2016. Resolving issues about the business’s efforts to get rid of counterfeit products from its online platforms, Ma stated Alibaba will do “anything to stop the phony products”. The company has been dogged for years by allegations that its shopping platforms were avenues for counterfeiters. “I guarantee you people that fakes, fake items, and intellectual property theft – we are increasingly more positive than ever that we can solve the problem,” Ma stated. Disclaimer: Blend Media want to remind you that the data contained in this site is not always real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not offered by exchanges however rather by market makers, therefore rates might not be accurate and may vary from the real market price, implying prices are a sign and not appropriate for trading purposes. Therefore Combination Media does n`t bear any responsibility for any trading losses you may incur as a result of utilizing this data. Fusion Media or anybody included with Combination Media will not accept any liability for loss or damage as an outcome of reliance on the info including data, quotes, charts and buy/sell signals contained within this site. Please be fully notified regarding the risks and costs connected with trading the monetary markets, it is among the riskiest financial investment types possible.

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