E-commerce giant Alibaba has denied its sales volume growth has slowed into single digits because of China's faltering economy, the official Xinhua news agency reported, after comments by an executive raised worries over performance. The company dismissed media reports that turnover on its hugely popular online platforms would grow less than 10 percent for the quarter ending in September, Xinhua said late Wednesday.
It came after Alibaba investor relations chief Jane Penner said gross merchandise volume (GMV) - a measure of value for online sales - for the current quarter came in lower than the company had forecast, Bloomberg News reported.
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