Chinese e-commerce giant Alibaba surpassed its US counterpart Amazon

Chinese e-commerce giant Alibaba surpassed its US counterpart Amazon

Chinese e-commerce giant Alibaba surpassed its US counterpart Amazon

Chinese e-commerce giant Alibaba surpassed its US counterpart Amazon as the world’s biggest e-commerce company Tuesday as the Hangzhou-based company reached the threshold of 470 billion U.S. dollars in market value. Shares of Alibaba rose over 1.2 percent in mid-session on Tuesday to 184.32 dollars, hitting a market capitalization of 472.1 billion dollars. Meanwhile, stock of US online retailer Amazon declined 0.87 percent to 982.35 dollars a share, making the company’s market value total 471.9 billion dollars.

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