AliExpress Plans '10 Billion Subsidies for Brands Going Overseas' Initiative; Initial Batch to Offer 1,000 Quotas

BABA's AliExpress is gearing up for its "10 Billion Subsidies for Brands Going Overseas" program, with 1,000 quotas available for the first batch. The initiative aims to attract renowned brands like Huawei $Huawei Hongmong(BK0795.SH)$ , LENOVO GROUP $LENOVO GROUP(00992.HK)$ , $XIAOMI-W(01810.HK)$ , and DJI, along with major merchants from $Amazon(AMZN.US)$ .

This program, rumored to be AliExpress's top project for 2024, will enable participating merchants to sell simultaneously on AliExpress and other platforms like Lazada, Miravia, Daraz, and Trendyol, tapping into key global markets such as Southeast Asia, South Asia, Europe, and the Middle East.

Additionally, various Chinese e-commerce companies are actively exploring overseas markets. For instance, PDD $PDD Holdings(PDD.US)$ launched Temu to replicate its successful social commerce model abroad, while JD Global $JD.com(JD.US)$ expanded to 24 European countries during the Lunar New Year Goods Festival. Reports suggest JD's interest in acquiring British e-tailer Currys.