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International Business Times

Business

China's Alibaba Posts Annual Revenue Increase Despite Spending Slump

Alibaba China Jack Ma Internet Beijing Tencent

A woman poses for a selfie next to a sign for e-commerce giant Alibaba in the Xuhui district of Shanghai in February (Credit: AFP)

Internet giant Alibaba posted on Thursday a six percent increase in annual revenue, the latest positive sign for China's tech sector despite persisting economic uncertainties that include sluggish spending and threatened trade.

The Hangzhou-based company is one of the biggest players in China's tech industry, with operations spanning retail, digital payment, artificial intelligence and entertainment.

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