During the financial report analyst conference call, Jiang Fan, the CEO of Alibaba's E-commerce Business Group, disclosed that the upcoming fiscal year will witness intensified investments in user engagement, an expansion of user payment capabilities, and a concerted effort to enhance commercialization rates. He underscored that the mid- to long-term objective for Alibaba's domestic e-commerce business is to stabilize its market share, while simultaneously refining the user experience and bolstering operational efficiency. Jiang Fan assumed the role of CEO for Alibaba's E-commerce Business Group in November 2024.
