Report: Alibaba to boost investment in Russia

Hangzhou, China – Alibaba Holding Group Inc. is reportedly planning to boost its investment in Russia. According to the China Want Times, Alibaba chairman Jack Ma said expanded e-commerce operations in Russia would be part of a broader effort called “One Belt One Road” that would electronically connect China with countries in Eastern Europe for trading.



Alibaba does business in Russia via its AliExpress global affiliate. Currently AliExpress has one employee in Russia, but is the most-visited e-commerce site there. AliExpress plans to hire more Russian employees and will open its first Russian office as part of expansion efforts. The U.S. and European Union have been enforcing economic sanctions against Russia due to its military activities in Ukraine and Crimea, but so far China has not levied any sanctions.