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HANGZHOU, Aug. 16 (Xinhua) – The Chinese online trading giant, Alibaba, has recorded a turnover of 114.9 billion yuan (about 16.7 billion US dollars) in the first quarter of the year. fiscal year 2020, up 42% year-on-year.
The first quarter of fiscal year 2010 extends from April 1 to June 30, 2019.
Its profit for the period was established at 30.95 billion yuan, up 54% over the previous year, the company said in a financial report. The annual number of consumers active in retail markets in China reached $ 674 million, up $ 20 million from the 12 months ending March 31, 2019.
The e-business operational business figure has increased 44% year-on-year, reaching 99.5 billion yuan, according to the company's report.
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