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Alibaba CEO Foresees Export Recovery
According to Alibaba.com (1688.HK) CEO David Wei, China's exports may increase by 20% year-on-year in the first quarter of 2010, Oriental Morning Post reported January 15.
Online trading has bounced back faster than the traditional markets, Wei said. Alibaba.com's fourth quarter statistics demonstrate that consumption of developed markets like the U.S. has recovered more quickly than expected, and China is seeing the most growth in purchasing inquiries for food and beverages, printing and packaging, and cosmetics, said Wei.
Alibaba.com had recorded more than 10.5 million users from outside of China by November 2009, a 50% increase annually.
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