Alibaba expects to nearly double gross merchandise value to $912 bln by fiscal 2020
June 14 (Reuters) - Chinese e-commerce firm Alibaba Group Holding Ltd said on Tuesday it expects to record 6 trillion yuan ($912 billion) in gross merchandise volume (GMV) in fiscal 2020, nearly double the 3.09 trillion yuan it expects this fiscal year.
The company disclosed the 2020 forecast during an investor conference at the company's headquarters in Hangzhou in Zhejiang province.
Executive Chairman Jack Ma also said Alibaba expects to have 2 billion consumers by 2036, up from 423 million active buyers in 2016.
($1 = 6.5823 Chinese yuan renminbi) (Reporting by Yimou Lee in HONG KONG; Writing by Anne Marie Roantree; Editing by Kenneth Maxwell)
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