(Yicai Global) Nov. 6 -- E-commerce giant Alibaba Group Holding has vowed to help China import USD200 billion worth of goods from more than 120 countries over the next five years, raising the stakes on a pledge archrival JD.Com made at the China International Import Expo yesterday to bring in USD14.7 billion.

The announcement underscores Alibaba's long-term commitment to globalization and boosting its efforts to satisfy the rising demand of Chinese consumers for high-quality international products, Chief Executive Daniel Zhang said in a statement today to the Global Import Leadership Summit, which forms part of the wider trade fair.

In a speech to open the CIIE in Shanghai yesterday, Chinese President Xi Jinping said the country will import USD30 trillion of goods and USD10 trillion of services over the coming 15 years. It will be companies such as Hangzhou-based Alibaba and Beijing-based JD.Com that will play a part in helping global businesses sell more into the world's second-largest economy.

"Globalization is one of Alibaba's most critical long-term growth strategies," Zhang said. "We are building the future infrastructure of commerce to realize a globalized digital economy where trade is possible for every country around the world."

Alibaba will help import goods from businesses of all sizes in the main developed countries of Germany, Japan, Australia, the US and South Korea between next year and 2023, he added. US-based Procter & Gamble, Switzerland's Nestle, Brazil's JBS, which is the world's largest meatpacker, and Japan's MTG beauty brand developer have extolled their holistic partnership with Alibaba.
 

"China's middle class is thriving," said Alvin Liu, general manager of Alibaba's Tmall import and export branch, said in the statement. "As incomes rise in China, consumers want faster access to and a wider variety of high-quality products from around the world."

In recent years, China's economic growth has increased the number of middle-to-high income consumers, according to a joint report by Deloitte China, the China Chamber of International Commerce, and Alibaba's AliResearch research arm. It also notes that China's cross-border e-commerce market has grown, with the proportion of imports to total e-commerce sales swelling to 10.2 percent last year from 1.6 percent in 2014.

Held at the National Convention & Exhibition Center in the eastern Chinese city of Shanghai, the first ever China International Import Expo runs to Nov. 10.

Editor: Ben Armour