Pursuits
Alibaba to Run Health, Movies out of Second Home-Base in Beijing
- Additional HQ in capital to focus on northern China expansion
- Online retailer seeks more of region's 400 million consumers
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Alibaba Group Holding Ltd. will set its main health care and movie businesses in Beijing, designating China’s capital its second headquarters to speed up an expansion into the country’s less-affluent north.
China’s biggest online retailer named Beijing and Hangzhou its two bases of operation to better serve the more than 400 million consumers located away from the wealthier eastern and southern coasts. The company has run its $76 billion global business out of the city of Hangzhou, adjacent to Shanghai, since its founding in 1999.