<p>China's Alibaba told its investors on Friday that overseas e-commerce would be a key focus as it looks for new sources of growth after a difficult year at home.</p>.<p>Earlier this month, Alibaba Group Holding Ltd restructured its e-commerce business into separate China and international divisions, with the latter to be led by Jiang Fan, head of Alibaba's flagship Taobao and Tmall marketplaces</p>.<p>Alibaba Deputy CFO Toby Xu, making his first major public remarks since being named this month to take over as CFO, said that international e-commerce "will become one of the key growth drivers", adding that 57 per cent of revenue for Cainiao, Alibaba's logistics unit, comes from overseas.</p>.<p>Earlier in the two-day investor event, Alibaba said it had set a target of $100 billion in gross merchandise value (GMV) for Lazada, its e-commerce service for Southeast Asia.</p>.<p>Lazada generated $21 billion in GMV from September 2020 to the same month in 2021, the presentation showed.</p>.<p>Outgoing CFO Maggie Wu said that Alibaba would include international commerce under Alibaba's larger "Core Commerce" financial segment in earnings, alongside commerce from its domestic facing marketplaces.</p>.<p>Local consumer services, which includes delivery and mapping services, and Cainiao will also fall within this category.</p>.<p>There was also a nod to social welfare, with four of seven investment categories outlined by Xu related to initiatives such as rural revitalization and China's ageing population.</p>.<p>CEO Daniel Zhang, meanwhile, pledged to slash emissions from Alibaba's supply chains and transportation networks by 50 per cent by the end of the decade.</p>.<p>Missing from the presentation was any mention of Ant Group, the financial services firm that is 33 per cent owned by Alibaba.</p>.<p>Last year, Beijing intervened at the last minute to abort a planned $37 billion listing of Ant. Alibaba co-founder Jack Ma subsequently slipped from the public spotlight and Chinese authorities began a year-long regulatory clampdown.</p>.<p>In November, Alibaba slashed its annual revenue forecast for its current fiscal year, from an initial growth target of 29.5 per cent to between 20 per cent and 23 per cent.</p>.<p>The company has been facing stiff competition from rivals including Pinduoduo Inc, which has won over consumers in rural China, and ByteDance-owned Douyin, which has grown in China's booming livestreamed e-commerce sector.</p>.<p><strong>Check out DH's latest videos</strong></p>
<p>China's Alibaba told its investors on Friday that overseas e-commerce would be a key focus as it looks for new sources of growth after a difficult year at home.</p>.<p>Earlier this month, Alibaba Group Holding Ltd restructured its e-commerce business into separate China and international divisions, with the latter to be led by Jiang Fan, head of Alibaba's flagship Taobao and Tmall marketplaces</p>.<p>Alibaba Deputy CFO Toby Xu, making his first major public remarks since being named this month to take over as CFO, said that international e-commerce "will become one of the key growth drivers", adding that 57 per cent of revenue for Cainiao, Alibaba's logistics unit, comes from overseas.</p>.<p>Earlier in the two-day investor event, Alibaba said it had set a target of $100 billion in gross merchandise value (GMV) for Lazada, its e-commerce service for Southeast Asia.</p>.<p>Lazada generated $21 billion in GMV from September 2020 to the same month in 2021, the presentation showed.</p>.<p>Outgoing CFO Maggie Wu said that Alibaba would include international commerce under Alibaba's larger "Core Commerce" financial segment in earnings, alongside commerce from its domestic facing marketplaces.</p>.<p>Local consumer services, which includes delivery and mapping services, and Cainiao will also fall within this category.</p>.<p>There was also a nod to social welfare, with four of seven investment categories outlined by Xu related to initiatives such as rural revitalization and China's ageing population.</p>.<p>CEO Daniel Zhang, meanwhile, pledged to slash emissions from Alibaba's supply chains and transportation networks by 50 per cent by the end of the decade.</p>.<p>Missing from the presentation was any mention of Ant Group, the financial services firm that is 33 per cent owned by Alibaba.</p>.<p>Last year, Beijing intervened at the last minute to abort a planned $37 billion listing of Ant. Alibaba co-founder Jack Ma subsequently slipped from the public spotlight and Chinese authorities began a year-long regulatory clampdown.</p>.<p>In November, Alibaba slashed its annual revenue forecast for its current fiscal year, from an initial growth target of 29.5 per cent to between 20 per cent and 23 per cent.</p>.<p>The company has been facing stiff competition from rivals including Pinduoduo Inc, which has won over consumers in rural China, and ByteDance-owned Douyin, which has grown in China's booming livestreamed e-commerce sector.</p>.<p><strong>Check out DH's latest videos</strong></p>