Hangzhou, 29th & 30th January: Earlier this week, the Alibaba Group, the largest e-commerce company in China, announced its results for the quarter ended 31st December 2018. The company reported total revenues of US$17 billion, up 41% year-on-year. The group’s net income grew 37% reaching US$4.8 billion.

Revenues from Alibaba’s China B2B business, primarily generated through 1688.com, were US$392 million. This represents an increase of 40% over the same quarter last year. The company’s international B2B business, primarily operating through Alibaba.com, generated revenues of US$361 million. That is growth of 31% year-on-year. In total, Alibaba’s B2B revenues for the quarter accounted for just 4.2% of the Group’s overall revenues.