China abandoned Russian AliExpress

The Chinese company Alibaba refused to invest in the Aliexpress Russia marketplace due to unwillingness to fall under secondary sanctions, writes The Bell.

According to the publication, other investors followed the example of the Chinese company, so Marketplais was left without funding. He is forced to reduce staff by 50%, close the current projects for the construction of his own logistics and refuse advertising.

“Alibaba – a public company, it is trading on the New York Stock Exchange, has many relationships with the American market and institutions. No one will be killed for the Russian project. Especially taking into account the incomprehensible prospects for the growth of the market in war and sanctions,” – The source of The Bell explained.

Despite the closing of Aliexpress Russia, it is not yet planned.