hktdc.com - Alibaba launches wholesale website at 1688.com
Alibaba.com Ltd<1688>, a leading e-commerce provider in China and the operator of China's most well-known B2B e-commerce portal, on Mar. 9 launched 1688.com, a new website for wholesale business, and saw traffic exceed 6.39 million visitors on the first day alone.
On 1688.com, more than 500,000 quality suppliers and 150 million pieces of product information are available. The site will function alongside Taobao.com and Alipay.com, two subsidiaries that also belong to Alibaba Group.
Wu Huating, a senior director of Alibaba.com, said that 1688.com is hoped to be the largest online purchase and wholesale market in the world.
Alibaba.com considered using numbers instead of English letters as a domain name before 2007 because numbers are easily remembered and do not need to be spelled out for Chinese users, said CEO Wei Zhe.
Wei added that a new internet credit and security system will be built by 1688.com and authoritative Chinese organizations, which will be helpful to problem solving.
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