Alibaba's Ma sees $1 trillion in transactions in 5 years

Alibaba's Ma Sees $1 Trillion in Transactions in Five Years

Chinese e-commerce company Alibaba Group Holding Ltd is aiming to more than double its transaction volumes to more than $1 trillion in five years, Executive Chairman Jack Ma told a conference in Chicago on Wednesday.

Ma said the group would achieve $1 trillion in "sales" in five years.

A spokesman for the group said he was referring to "gross merchandise volume," a measure of the transactions across its various platforms, which came to roughly $390 billion in the past fiscal year.

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