SAO PAULO, April 26 Alibaba Group Holding Ltd
has plans to provide credit services in Brazil, Jack
Ma, the company's executive chairman, was quoted as saying in
Wednesday's edition of O Estado de S. Paulo.
In China, the e-commerce firm developed a credit line to
finance purchases on its website. "We want to invest in
e-commerce, logistics and inclusive financing," the newspaper
quoted Ma as saying. The executive did not give details on what
type of credit operations Alibaba would consider launching in
Brazil, O Estado said.
"Alibaba has business-to-business and business-to-consumer
operations in Brazil," Ma said, according to O Estado.
Alibaba started operations in Brazil in 2014 but has faced
hurdles over logistics and the monitoring of product
authenticity on its website, O Estado reported.
"We did very well in the last few years. But now we have
some issues and our team is working on them," Ma said, according
to O Estado.
Representatives for Alibaba were not immediately available
to comment on Ma's remarks, which were made at the United
Nations in Geneva on Tuesday.
Ma, who advises UNCTAD, the U.N.'s trade and development
agency, on small business and young entrepreneurs, spoke at a
conference on e-commerce development.
(Reporting by Ana Mano; Editing by Jeffrey Benkoe)