(Yicai Global) March 21 -- Alibaba Group Holding plans to operate all of its business via Alibaba Cloud, the e-commerce giant's affiliated cloud computing service provider.

All of the group's technology and product output, including finance and new retail, will be done through AliCloud in the next year or two, online news outlet The Paper reported, citing Jeff Zhang, Hangzhou-based Alibaba's chief technology officer. Between 60 percent and 70 percent of the group's businesses now runs through the platform, he added.

AliCloud is the world's third-largest public cloud provider and has a market share of over 40 percent in China, public data show. It is becoming an increasingly important part of Alibaba's group businesses. At the end of last year, the group took a further step and upgraded the division to cloud and data intelligence.

The upgraded organizational structure means Alibaba Cloud will become 'Alibaba on the cloud,' and it will also be the technological basis of the Alibaba economy and the output venue for all of its technologies and products, Zhang, who is also president of AliCloud, was quoted as saying at a press briefing today.