Alibaba bets on overseas businesses amid sluggish growth in China [Video]

Chinese tech giant Alibaba Group is betting on its overseas businesses while domestic consumption growth remains sluggish.

One bright spot in Alibaba’s latest earnings report was its international e-commerce business unit, which posted revenue of 28.5 billion Chinese yuan ($4 billion) in the December quarter, up 44% from a year ago. Alibaba International Digital Commerce Group includes platforms like AliExpress, Lazada, Daraz and Trendyol.

“The strong performance was driven by solid growth across all of AIDC’s retail platforms, especially from the crossborder AliExpress Choice business,” the company said.

Meanwhile, revenue from the company’s core e-commerce businesses Taobao and Tmall Group was $18.1 billion, growing only 2% year-over-year.

“We will step up investment to improve users’ core experiences to drive growth in Taobao and Tmall Group and strengthen market leadership in the coming year. We will …