As Covid-19 Rages, Alibaba’s Chinese Rivals Steal a March

Investors are betting on smaller Chinese e-commerce companies to grab share from market leader Alibaba. The question now is whether these companies can turn in higher profits, too.

China’s e-commerce has picked up steam even though overall consumer sentiment remains sluggish: Online sales of goods in May grew 22% from a year ago, while overall retail sales have declined year over year every month in 2020.

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