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Friday, October 17, 2008

Taobao announces record transaction volume in a single month

Friday, October 17, 2008
Asia's largest online retailer Taobao.com's transaction volume exceeded 10 billion yuan in September, the company announced on Monday. Taobao.com will launch a series of e-commerce support measures to help SMEs develop domestic market.

Alibaba Group, the parent company of Taobao.com, announced recently it will invest 5 billion yuan in Taobao.com over the next five years.

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