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Alibaba Releases Report on Cross-Border Trade’s Positive Impact on the U.S. Economy

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New report quantifies the positive economic impacts of cross-border trade conducted by businesses leveraging Alibaba platforms, tools and solutions

NEW YORK, March 6, 2024 /PRNewswire/ — Alibaba Group Holding Limited (NYSE: BABA and HKEX: 9988 (HKD Counter) and 89988 (RMB Counter), “Alibaba” or “Alibaba Group”)  recently announced findings from a new report highlighting Alibaba’s positive impact on the U.S. economy and how its e-commerce platforms support U.S. businesses. The report reflects positive growth in both retail sales and employment numbers in the U.S. resulting from the sale of American products to Chinese consumers through Alibaba’s range of online marketplaces and platforms.

Alibaba Group continues to support businesses of all sizes, from small businesses to multinational corporations, by providing them with e-commerce platforms and solutions to enhance their operations and create new growth opportunities in overseas markets. As such in 2022, $66.2 billion in sales from U.S. brands to Chinese consumers on Alibaba platforms helped to add $52.9 billion to the U.S. Gross Domestic Product (GDP) and supported over 403,000 U.S. jobs, according to the report compiled by NDP Analytics and commissioned by Alibaba.

“E-commerce opportunities across industries continue to grow as consumer demand increases and new technology emerges to enhance the online shopping experience,” said Eric Pelletier, Head of International Government Affairs at Alibaba Group. “At Alibaba, we’re proud that U.S. businesses looking to expand globally count on platforms and solutions from Alibaba to empower them to tap into new markets – such as the rapidly growing Chinese market – to fuel their business growth.”

Alibaba Impact Across the U.S. Economy 
As U.S. businesses broaden the scope of their operations to a global level, Alibaba supports businesses throughout the U.S. in capturing growth opportunities by tapping into a growing Chinese customer base. The report shows the positive impacts on those businesses who have taken advantage of Alibaba’s variety of platforms and solutions in the form of product sales, job growth, indirect impacts and more. Key findings include:

Product sales drive growth: In 2022, large and small U.S. brands utilized Alibaba’s e-commerce platforms to sell approximately $66.2 billion worth of products to consumers in China. That represents a 47.4% increase since 2019 ($44.9 billion). These products range from consumer staples to luxury goods, and the three largest product categories powering sales were computers & electronics, apparel & leather products, and personal care & cleaning products.Employment numbers rise from coast to coast: As sales surged on Alibaba’s platforms, U.S. businesses saw new needs in manufacturing and production, and ramped up their own operations to meet demand. Based on official production employment data published by the U.S. Census, U.S. brands created an estimate of 96,660 direct production jobs (56.6% of 170,867 total direct jobs) to support $49.3 billion in U.S. brand sales on Alibaba’s platforms in 2022. Most of these jobs, totaling 117,270, were generated in the Pacific region, including Alaska, California, Washington, Oregon and Hawai’i. This was followed by the South Atlantic division stretching from Washington, D.C. to Florida with 52,693 new jobs.Small businesses see a boost: Small businesses play an integral role in the U.S. economy, and those that have utilized Alibaba’s platforms have been able to go beyond their U.S. customer base and reach the world’s largest consumer market of more than 1.4 billion people. In fact, U.S. small businesses with under 100 employees generated $6.7 billion in sales, accounting for 13.5% of U.S. brand sales on Alibaba’s platforms.Effects rippled throughout the supply chain: The impact is not felt just by those businesses that use Alibaba’s platforms, but also by businesses throughout their supply chains (indirect impact), and the local communities where U.S. workers at the brands and along the supply chain spend their wages (induced impact). In 2022, sales from U.S. products sold on Alibaba’s platforms created an additional $41.3 billion in indirect and induced output for companies and supported 232,044 indirect and induced jobs along the supply chain and in communities nationwide.

“We are committed to developing new innovations and solutions to aid U.S. businesses as they seek to build on their successes in China and other global markets,” said Pelletier. “Alibaba’s mission has always been ‘to make it easy to do business anywhere,’ and we firmly believe that our platforms offer U.S. businesses a unique growth opportunity. We support and act as a true partner for any business leaders and decision-makers utilizing our platforms to help propel their businesses beyond their domestic market.”

Alibaba aims to bring together businesses from the U.S. and across the globe, enhancing partnerships and helping them to develop stronger cross-border relationships. Through these and the latest tools and innovations from Alibaba’s platforms, businesses of all sizes are able to expand beyond their domestic market and elevate their brands globally.

For more information on Alibaba and the report, please visit Alibabapowersbusinesses.com.

About the Report 
This report relied on data provided by Alibaba for 2022 from platforms including Taobao Global, Tmall, Tmall Global, Freshippo and Koala. Additional data comes from official industry statistics, economic multipliers compiled and published by U.S. governmental agencies and third-party research. This includes data from the U.S. Bureau of Economic Analysis (BEA), the U.S. Census Bureau and North American Industry Classification System (NAICS).

About Alibaba Group
Alibaba Group’s mission is to make it easy to do business anywhere. The company aims to build the future infrastructure of commerce. It envisions that its customers will meet, work and live at Alibaba, and that it will be a good company that lasts for 102 years.

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SOURCE Alibaba Group

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Azentio deepens regional commitment with new flagship offices in Dubai and Cairo

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April 24, 2025

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DUBAI, UAE, April 24, 2025 /PRNewswire/ — Azentio Software, a leading technology enabler in the BFSI space, is proud to announce the opening of newly expanded and upgraded office spaces in Dubai, United Arab Emirates, and Cairo, Egypt, as part of its ongoing growth strategy in the Middle East and Africa region.

While Azentio has maintained a strong presence in both cities for many years, these new offices represent a significant milestone in the company’s regional evolution, reflecting its long-term commitment to closer client engagement, local innovation, and talent investment.

The new Dubai office, located in Business Central Towers in Dubai Internet City (DIC), will serve as Azentio’s Middle Eastern regional hub and a true Center of Excellence for the business, playing a critical role in accelerating growth, driving operational excellence, and supporting clients across the region with even greater proximity and efficiency.

In Cairo, the larger, more sophisticated office space will further strengthen Azentio’s ability to collaborate with financial institutions, insurers, and enterprises, while also supporting local hiring and delivery capabilities.

This regional investment follows closely on the heels of Azentio’s recently expanded offices in Bangalore and Chennai, India, which were also officially unveiled this year. Together, these developments underscore the company’s focus on expanding its operational footprint in high-growth markets and supporting customers with on-the-ground presence and expertise.

“We’ve always believed in being close to our customers, and this next chapter in Dubai and Cairo is a reflection of that philosophy,” said Sanjay Singh, CEO at Azentio Software. “These new spaces are more than just offices, they’re a signal of our intent to double down on our presence in the MEA region and continue to invest in the resources and environments that will help our teams, and our clients, thrive.”

About Azentio

Azentio is a leading provider of purpose-built, intelligence-driven technology solutions designed to transform the banking, financial services, insurance (BFSI), and enterprise resource planning (ERP) sectors. By combining cutting-edge innovation with deep domain expertise, Azentio empowers businesses to accelerate growth, enhance operational efficiency, and stay ahead in a rapidly evolving market. With a strong presence across the Middle East, Africa, and Southeast Asia, Azentio delivers world-class technology that streamlines processes and delivers tangible results, enabling organizations to achieve sustainable success. For more information on Azentio, please visit www.azentio.com.

Logo: https://mma.prnewswire.com/media/2670942/Azentio_Logo.jpg

 

View original content:https://www.prnewswire.co.uk/news-releases/azentio-deepens-regional-commitment-with-new-flagship-offices-in-dubai-and-cairo-302436000.html

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LianLian Global and 12 Victory partnering to offer Pay to China solution to the Thai market

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April 24, 2025

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HANGZHOU, China, April 24, 2025 /PRNewswire/ — Addressing the demand for seamless and secure international transfers, LianLian Global and 12 Victory are proud to introduce a new generation in remittance services. This strategic partnership delivers a fast, reliable, and fully compliant channel for remitting funds from Thailand to mainland China, adhering to the State Administration of Foreign Exchange (SAFE) regulations.

This collaboration leverages LianLian Global’s innovative LianLian Global Payout Service (LGPS) to ensure that remittances are processed with SAFE approval, significantly reducing the risk of funds being frozen.

The solution facilitates seamless B2B, C2C, and B2C transfers to China, providing businesses and individuals with a remittance process that is efficient and transparent. The partnership aims to provide a secure and transparent channel that adheres to all SAFE regulations, ensuring funds are transferred quickly and efficiently with minimised risk.

LGPS offers a faster, more cost-effective and reliable method for automating international payments by leveraging LianLian Global’s extensive global payout network with over 60 licenses worldwide. This empowers financial institutions and PSPs to provide streamlined, transparent global payments to their clients, ensuring recipients receive the full intended amount while optimizing speed and cost.

LianLian Global, as a core cross-border payment brand of Lianlian DigiTech (Stock Code: 2598.HK), is a comprehensive and innovative enterprise in cross-border finance and services in China. LianLian Global, together with industry eco-partners, has created a one-stop cross-border trade service platform that integrates store opening assistance, global funds collection, global acquiring, global payout, Lianlian FX[1], Lianlian financing service platform[2], tax refund assistance and other services to help Chinese brands expand their overseas markets. 

[1] The exchange rate of LianLian Global FX business is provided by partner banks
[2] The financing products and corresponding contents displayed on the Lianlian financing service platform are provided by relevant licensed institutions

The Twelve Victory Group of Companies strives to be a leader in foreign exchange services by offering more than 30 different currencies to our customers at a very reasonable rate. In the currency exchange business, the Company is one of the key components to support the country’s economic growth. including education, exports, international trade, foreign investment and the tourism sector. The company has foreseen the massive inflow of foreign currencies into Thailand, hence our aspiration to extend our range of comprehensive services base to both domestically and internationally.

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SOURCE Lianlian

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Vietnam Pro Wrestling Hosts the Biggest Week in the Country’s Wrestling History at The Grand Ho Tram

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19 minutes ago

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April 24, 2025

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Vietnam Pro Wrestling just delivered the biggest week in Vietnamese wrestling history with two blockbuster events—an international showcase at The Grand Ho Tram and its 11th consecutive sellout in Ho Chi Minh City.

HO CHI MINH CITY, Vietnam   , April 24, 2025 /PRNewswire-PRWeb/ — While the wrestling world focused on WWE’s WrestleMania weekend in Las Vegas, halfway across the globe, Vietnam Pro Wrestling (VPW)—Southeast Asia’s fastest-growing promotion—was making history of its own.

“It’s been the thrill of a lifetime to work alongside our roster of homegrown stars and collectively build VPW into what it is today. The rise of VPW shines a global spotlight on Vietnam as a major player in the future of sports entertainment.” — Carey Wass, CEO of Vietnam Pro Wrestling

VPW just delivered the biggest week in Vietnamese pro wrestling history with back-to-back major events: Ho Tram Slam, the country’s first-ever international professional wrestling showcase held at the world-renowned The Grand Ho Tram, and Saigon Slam, its 11th consecutive sold-out show—a major milestone for Vietnam’s rapidly growing entertainment scene.

Founded in 2015 as a small wrestling club, VPW has grown into a premier destination for sports entertainment. On April 12, 2025, VPW hosted Ho Tram Slam at The Grand Ho Tram, Vietnam’s most iconic resort. The event drew fans from China, South Korea, and beyond, showcasing Vietnam’s rise as a new global hub for live events.

The event featured elite athletes from seven countries across four continents, including:

The Juicy Boyz (Malaysia)Aiden Rex (Singapore)Sunny Z (Chinese-Canadian)The British Horror (UK)The Natural Classics (Australia), brothers Tome and Stevie Filip, fresh off a tour with Japan’s New Japan Pro Wrestling

Vietnam’s top local talent also took centre stage, including founder “Awesome Taurus” Rocky Huynh, fan-favourite “The Unstoppable Force” Ares, and a guest appearance by beloved comedian Phương Nam from Saigon Tếu.

Just one week later, on April 19, VPW returned to Ho Chi Minh City for Saigon Slam at VAIB Studio—its 11th straight sold-out event. It marked the first time in company history that two flagship shows were successfully delivered on consecutive weekends.

This historic doubleheader comes as Vietnam cements its place as a cultural and economic leader in Southeast Asia. With a dynamic creative economy, a young, digital-native population, and growing demand for premium live entertainment, VPW is the undisputed home of professional wrestling in Vietnam—a national entertainment brand that’s redefining what’s possible in Southeast Asia.

With:

Millions of social media views,A newly launched bilingual website,And a feature-length U.S. documentary produced by AEW icon Chris Jericho, set for release in 2025,

…VPW is gaining momentum as a rising force in the international sports entertainment industry.

“It’s been the thrill of a lifetime to work alongside our roster of homegrown stars and collectively build VPW into what it is today,” said Carey Wass, CEO of Vietnam Pro Wrestling. “The rise of VPW shines a global spotlight on Vietnam as a major player in the future of sports entertainment.”

Looking forward, VPW will continue expanding its national tour, preparing Vietnamese talent for international appearances, and working toward a long-term vision that includes hosting Southeast Asia’s own WrestleMania-style weekend.

ABOUT VPW: Vietnam Pro Wrestling (VPW) is Southeast Asia’s fastest rising professional wrestling promotion. Founded in 2015, VPW has grown from a community club into a major live events brand, known for producing high-energy shows that combine athleticism, storytelling, and global appeal. Based in Ho Chi Minh City, VPW has delivered over a dozen sellout events and continues to develop talent, build partnerships, and expand its reach across Vietnam and beyond.

Media Contact

Carey Wass, Vietnam Pro Wrestling, 84 702037402, media@vietnamprowrestling.com, www.vietnamprowrestling.com

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SOURCE Vietnam Pro Wrestling

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