Chinese e-commerce giant Alibaba surpassed its U.S. 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.

 

本周二，中国电商巨头阿里巴巴超过美国电商亚马逊成为世界最大的电商公司，这家总部位于杭州的公司市值已经达到4700亿美元。

 

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 U.S. online retailer¹ Amazon declined 0.87 percent to 982.35 dollars a share, making the company's market value total 471.9 billion dollars.

 

Analysts² said Alibaba regained³ its title of the world's biggest e-commerce company after over two years thanks to its incredible performance this year.

 

As one of the top performers in the New York Stock Exchange, Alibaba has gained over 100 percent since January, while Amazon rose nearly 30 percent.

 

The Chinese company's stock soared 12 percent in the past two months after it announced better-than-expected quarterly earnings⁴ in August.

 

Alibaba's net profit jumped 96 percent to more than 2.1 billion dollars year-on-year in the first fiscal⁵ quarter ending June, beating market expectations.

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