China's e-commerce giant Alibaba will set up a northwest headquarters in Xi'an, capital of Shaanxi Province.

 

中国电商巨头阿里巴巴将在陕西省省会西安建立一座地区总部。

 

The decision was announced by Ma Yun, Alibaba's chairman, during the World Xi'an Entrepreneurs Convention on Saturday, according to a press release given by Alibaba.

 

It cited Ma as saying that Xi'an is an important city in northwest China and the starting point of ancient Silk Road. Alibaba looks forward to be involved in the city's development.

 

Cainiao Network Technology, Alibaba's courier aggregator, will increase its investment in Xi'an to boost economic restructuring and transformation¹ of northwestern areas, the press release said.

 

Aliyun, Alibaba's cloud computing² subsidiary, and Xi'an Jiaotong University will establish a big data college to train talent, it said.

 

On Thursday, Alibaba said that its net profit jumped 96 percent to more than 14 billion yuan (2.1 billion U.S. dollars) year on year in the first fiscal³ quarter ending June. The group's revenue was about 50 billion yuan in the quarter, up 56 percent year on year.

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