(Yicai Global) May 8 -- Chinese e-commerce giant Alibaba Group Holding will assist 700,000 Chinese shop owners in selling their domestic goods overseas via its business-to-consumer Tmall online retail platform and AliExpress, its affiliated online shopping service, Singapore-based Lazada and other online emporiums.
The Hangzhou-based firm will help 200 time-honored Chinese companies rack up annual sales of over CNY100 million (USD14.8 million) and support 200,000 shop owners with annual sales of CNY5 million on its Taobao e-commerce platform to foster 200 domestic brands that reap annual sales of more than CNY1 billion, it said in a statement today.
All high-quality agricultural and industrial products and services, time-honored domestic brands and cultural and creative items nationwide will be 'made in China,' the statement added.
The proportion of Chinese brands on Alibaba's platforms reached 71 percent last year. More than 70 percent of the nationally-certified 1,128 time-honored companies have opened stores on the two Ali-platforms, and 46 brought in over CNY100 million in sales on them last year.
Domestic brands made up more than 50 percent of volume during last Nov. 11's Black Monday-style Double-11 shopping festival, and 237 had turnover topping CNY100 million on Tmall.
Sales of products by Xiaomi, Huawei Technologies, Midea Group, Haier Group and many other Chinese brands even exceeded CNY1 billion that day, Alibaba data show.
Editor: Ben Armour