Alibaba and Tencent Outpacing Competitor Baidu as E-Commerce Grows in the Eastern World

Chinese e-commerce giants Alibaba and Tencent are leading e-commerce market growth, seeking to do everything from cloud computing to digital payments; the Chinese market infrastructure is also helping their business growth and their business models are rivaling comparative US companies; Jack Ma’s Alibaba is expanding rapidly in the global markets with partnerships and acquisitions and Tencent is following closely with numerous acquisitions as well; investment bank Goldman Sachs estimates China’s online retail market to double in size by 2020 to $1.7 trillion and aggressive market expansion from Alibaba and Tencent appears to be successfully supporting that estimate. Source