Equities

Reuters details how Alibaba emerging as big winner in coronavirus crisis

Reuters details how Alibaba emerging as big winner in coronavirus crisis

Reuters detailed how Alibaba is emerging as one of China’s biggest corporate winners of the coronavirus crisis, gaining the opportunity to expand its businesses and solidify its status as a critical part of the country’s socio-economic engine. Alibaba has seen traffic at its online marketplaces shoot higher and demand grow for services like food delivery. Local authorities have even turned to its cloud business to build health-tracking apps. The company is now positioning itself as a hirer and a lender too, advertising for over 100,000 jobs and offering billions of dollars in loans to small and mid-sized enterprises at a time when many others are retrenching.