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China’s Alibaba plans to list its shares in the U.S. in late 2014 in an offering that is projected to be one of the largest in history and is expected to raise more than $15-billion (U.S.).
China’s Alibaba plans to list its shares in the U.S. in late 2014 in an offering that is projected to be one of the largest in history and is expected to raise more than $15-billion (U.S.).
(Eugene Hoshiko/AP)

China’s Alibaba storms America’s retail gates

The world has officially shifted on its axis, as China’s leading e-commerce firm takes aim at the U.S. retail market.

Alibaba Group Holding Ltd.’s launch on Wednesday of a direct-to-consumer website called 11 Main reverses the long tradition of Western giants trying to carve out a slice of the Chinese consumer market. Now, one of China’s top companies is laying plans to win a place in the heart of American shoppers.