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Taobao s Aseptic valves ets up Beijing subsidiary

Taobao s Aseptic valves ets up Beijing subsidiary
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Taobao sets up Beijing subsidiaryPublished: 08 Jul 2009 20:31:17 PST

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Jul. 9, 2009 (China Knowledge) - Taobao.com, the online auction unit of China's leading e-commerce company, Alibaba Group, yesterday confirmed that it has set up a subsidiary in Beijing, the capital of China.

The firm appointed Wu Yongming as the general manager of the Beijing branch, which currently has more than 300 employees.

The new branch office is in Taikang Financial Tower in the central business district in Beijing. Taobao will move its existing staff and operations in Beijing from the Winterless Center in Chaoyang District to the new location.

The Beijing branch will be directly managed by Taobao's headquarters in Hangzhou, the capital of Zhejiang Province.

Alibaba integrated its Alimama.com subsidiary into Taobao.com last September. After that, some industry sources said Taobao is likely to set up a branch in Beijing, though the firm's spokesman denied the rumors.

Taobao's transaction volume surged to RMB 99.96 billion in 2008, up 131% from previous year.

Taobao s Aseptic valves ets up Beijing subsidiary

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