China’s e-commerce boom continues

WSJ:

Alibaba predicts its revenue will increase by almost 50% this fiscal year on the backs of China’s swelling ranks of middle-class consumers. Its Nasdaq-listed shares have risen 80% since the beginning of the year. China’s e-commerce growth has slowed, but consultant McKinsey & Co. still expects an expansion of 19% this year—with much of that driven by more affluent consumers buying bigger-ticket items.

More: “Alibaba has signed an agreement with its home city government in Zhejiang province to use the company’s technology to create an online system for house rentals.” What a world.

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