Editor’s Picks 29 March 2016 at 6:32 GMT

Alibaba embraces the sharing economy with flea market investment

South China Morning Post
Chinese e-commerce giant Alibaba is going to invest at least 100 million yuan this year to develop a digital flea market in China. The firm launched a used-goods mobile app called Xianyu (Idle Fish) in 2014 that has more than 100 million registered users. The firm is planning to invest the funds to introduce a flea market into 100 urban cities across the country. The trading online of second-hand goods has been booming in China recently, with Ganji.com offering classified advertisements, 58.com selling used cars and Dangdang second-hand books. CBNData says the used-goods trade market could reach 400 billion yuan in China this year.
Read full article at South China Morning Post

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