Alibaba targets $1 trillion in transaction volumes by 2020

CAPE TOWN (Reuters) – Chinese e-commerce giant Alibaba Group Holding Ltd is aiming to double its annual transaction volume to over $1 trillion within four years, the firm's chief executive said on Wednesday. “What I can share with you is that in four years we have a very clear goal which is in fiscal 2020, Alibaba wants to be the first company to have a retail market base scale of over $1 trillion, so that is our clear goal in the next three to four years,” Daniel Zhang told a conference in Cape Town. (Reporting by Wendell Roelf)

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