Alibaba Helps Suppliers Financially Due to Coronavirus

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The Chinese web store giant Alibaba has introduced mitigating measures to help its mainly Chinese suppliers. Among other things, the group suspends the commissions that suppliers have to pay to sell through the Chinese-language platform Tmall until 1 July.

 

“Regardless of the situation, we will assist our suppliers in getting through these difficult times,” the listed company promised. Most of the stuff on the platforms of Alibaba is of Chinese origin.

Many Chinese producers are struggling with supply problems due to the outbreak of the Wuhan virus, which has already infected more than 60,000 people.

For example, numerous container ships are stuck in the ports, and many cargo aircraft remain on the ground.

Alibaba warned that the coronavirus is putting a brake on growth in the current quarter. CEO Daniel Zhang did not want to link a figure to this. The internet giant noticed that meals and travel orders collapsed after the Chinese New Year.

In the past quarter, sales and earnings on an annual basis increased by more than a third thanks to good sales on Singles Day, the Chinese response to Valentine’s Day. Alibaba then broke its own sales record.

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