(Yicai Global) Sept. 28 -- Chinese e-commerce platform Taobao's live-streaming channels have facilitated more than CNY300 billion (USD4.4 billion) in transactions over the past 12 months, according to Alibaba Group Holding.

The number of viewers has risen by nearly three times from a year ago, the Hangzhou-based tech giant said on its virtual 2020 Investor Day today. Meanwhile, the number of sellers has more than tripled.

Alibaba's retail services have 742 million annual active users in China, said the firm. Some 119 million of them are monthly active users, and 70 percent of the online retailer's new users come from lower-tier cities and towns. That is where strong growth is expected to reside over the next two to three years, it added.

Editor: Emmi Laine