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2022-12-15 00:40
本文摘要:Alibaba Group Holding Ltd. -- which is preparing to launch perhaps the largest U.S. stock listing ever of a Chinese company -- dominates Chinas e-commerce market. But not everybody in the U.S. has a grasp of its scope.阿里巴巴集团(Alibaba Group


Alibaba Group Holding Ltd. -- which is preparing to launch perhaps the largest U.S. stock listing ever of a Chinese company -- dominates Chinas e-commerce market. But not everybody in the U.S. has a grasp of its scope.阿里巴巴集团(Alibaba Group Holding Ltd.)打算赴美国上市,未来将会沦为有史以来美国市场上规模仅次于的一桩中资公司首次公开发表IPO(IPO)。阿里巴巴主导着中国的电子商务市场,但并非所有美国人都确切阿里巴巴的业务范围。Perhaps the best way to understand Alibaba is as a mix of Amazon, eBay and PayPal, with a dash of Google thrown in, all with some uniquely Chinese characteristics.理解阿里巴巴的最佳方法或许是把它看作亚马逊(Amazon)、eBay和贝宝(PayPal)的混合体,再行重新加入一点谷歌(Google)成份。

每块业务都具备独有的中国特色。Unlike Amazon.com Inc., which buys goods from suppliers and sells them to customers, Alibaba has always acted as a middleman, connecting buyers and sellers and facilitating transactions between them. While it isnt an auction company, its middleman role is similar to the one played by eBay Inc.不同于亚马逊从供应商进口商再行销售给客户的经营模式,阿里巴巴扮演着的是中间人的角色,它把买家和卖家联系到一起,为他们之间的交易获取便捷。阿里巴巴并非拍卖公司,但其中间人角色与eBay Inc.扮演着的角色相近。Taobao, Alibabas biggest website, is like a gigantic Chinese bazaar, with about 760 million product listings from seven million sellers. Merchants dont pay to sell products on Taobao. Instead, they pay Alibaba for advertising and other services to allow them to stand out from the crowd.阿里巴巴旗下的仅次于网站淘宝(Taobao)像一个可观的中国集市,大约有7.6亿条商品信息,登记卖家多达700万家。


That no-fee model is part of Taobaos appeal in China. Much as with Google Inc., the ads from merchants appear with Taobaos product-search results.在中国,这种免费模式包含了淘宝的吸引力之一。买家在淘宝上搜寻商品时,卖家的广告不会经常出现在搜寻结果页面上,这与谷歌的广告模式相近。

While Taobao is mostly for small merchants, Tmall, another shopping site run by Alibaba, is designed for bigger merchants, including well-known brands such as Nike Inc. and Gap Inc. Apple Inc. this year opened a store on Tmall. Unlike Taobao, Tmall, which has about 70,000 merchants, charges each seller a deposit and an annual fee, as well as a commission on each transaction.淘宝上的卖家大多是小商户。阿里巴巴旗下另一个购物网站天猫(Tmall)是专门为大商户设计的,已入驻天猫的知名品牌还包括耐克(Nike Inc.)、Gap Inc.等。苹果公司(Apple Inc.)今年也在天猫开办了一家官方分店。天猫目前享有大约7万家商户。

与淘宝有所不同,天猫向所有商户缴纳保证金和年费,并向每单交易缴纳佣金。What sets Alibaba apart is size. The company has said that Taobao and Tmall account for more than half of all parcel deliveries in China. In 2012, the combined transaction volume of Taobao and Tmall topped one trillion yuan ($163 billion), more than Amazon and eBay combined.可观的业务规模令其阿里巴巴变得与众不同。

该公司称之为,淘宝和天猫产生的租车包覆已占中国整个租车业务量的一半以上。2012年,淘宝和天猫平台综合在一起的交易额突破人民币1万亿元(约合1,630亿美元),多达了亚马逊和eBay的交易总额。Alibabas revenue is about one-tenth of Amazons because the Chinese company doesnt sell products on its site. But Alibaba is far more profitable. Alibabas third-quarter revenue rose 51% from a year earlier to $1.78 billion. Net profit was $792 million, giving the company a profit margin of 44.6%, according to shareholder Yahoo Inc., which owns a 24% stake in Alibaba. Amazon posted revenue of $17.09 billion and a loss of $41 million in the same quarter.由于阿里巴巴本身并不在其网站上销售产品,该集团的收益仅有相等于亚马逊的十分之一左右,但利润率却低得多。

据阿里巴巴股东雅虎(Yahoo Inc.)透露的数据,去年第三季度,阿里巴巴收益为17.8亿美元,同比快速增长51%; 利润为7.92亿美元,利润率超过44.6%。雅虎持有人阿里巴巴24%的股权。相比之下,亚马逊当季收益为170.9亿美元,但同期亏损4,100万美元。

Alibaba, which could raise about $15 billion from its U.S. IPO, also has emerged as a huge player in Chinas creaky financial system. To solve the problem of buyers trusting merchants on its site, Alibaba created Alipay, a payment system that protects buyers if sellers dont deliver. Alipay has become so ingrained in China that when the company created a money-market fund, it became one of the worlds largest in just eight months.阿里巴巴赴美国上市有可能筹资大约150亿美元,该公司同时还沦为中国薄弱的金融系统中的一个最重要力量。为了解决问题其网站买家与商户之间的信任问题,阿里巴巴打造出了缴纳系统支付宝(Alipay),以便在卖家不发货的情况下维护买家的利益。支付宝在中国早已根深蒂固,以至于阿里巴巴成立一个货币市场基金时,该基金在短短八个月内就沦为世界仅次于的同类基金之一。

Alibaba also makes microloans and is taking part in a Chinese government program to set up five private banks on a trial basis in some big cities. Run by an affiliate of Alibaba, the payment system has allowed the company to accumulate a vast amount of information on Chinese small businesses, consumers and their online transactions.阿里巴巴还派发小额贷款,并参予了中国政府在一些大城市成立五家民营银行的试点计划。由阿里巴巴旗下公司运营的缴纳系统让该公司累积了大量有关中国中小企业、消费者以及他们在线交易的信息。Even though Alibaba remains by far the biggest player in Chinas fast-growing e-commerce market, the company faces stiff competition as more Chinese consumers use smartphones. Social-media and online-games company Tencent Holdings Ltd. is emerging as a powerful competitor because of its ability to use its popular WeChat mobile-messaging application as a platform to offer services such as e-commerce.虽然阿里巴巴依然是中国快速增长的电子商务市场的龙头老大,但随着更好的中国消费者用于智能手机,阿里巴巴开始面对白热化的竞争。

社交媒体和在线游戏公司控股(Tencent Holdings Ltd.)就是阿里巴巴的众多竞争对手。将该公司倍受青睐的移动短消息应用于微信(WeChat)作为一个平台,向用户获取电子商务等服务。To further bolster its e-commerce capabilities, Tencent this month announced a deal to buy a 15% stake in JD.com Inc., Chinas second-largest e-commerce firm.为更进一步强化电子商务方面的能力,本月宣告了并购中国第二大电子商务公司京东商城(JD.com Inc.) 15%股权的交易。

Alibaba has fought back with a string of deals, including its offer last month to pay $1.13 billion for the 72% stake in Chinese online map company AutoNavi Holdings Ltd. that it didnt already own. Last year Alibaba invested $585.8 million for a 18% stake in Sina Weibo, the popular microblogging site controlled by Sina Corp.阿里巴巴也不甘示弱,该公司也展开了一系列并购,还包括上个月明确提出以11.3亿美元并购其仍未持有人的中国在线地图公司高德(AutoNavi Holdings Ltd.)剩下72%股权的的交易。去年阿里巴巴耗资5.858亿美元并购了新浪微博(Sina Weibo)的18%股权,新浪微博是新浪(Sina Corp.)旗下的高人气微博客网站。Weibo unveiled plans Friday to sell $500 million of stock in the U.S.新浪微博上周五发布了在美国上市的计划,白鱼发售5亿美元股票。Alibaba was founded in 1999 by Jack Ma, an English teacher in the eastern Chinese city of Hangzhou. Though the dot-com bubble was expanding in the U.S., the Internet was still a foreign concept to many Chinese businesses.阿里巴巴是马云在1999年创办的,他原本是华东城市杭州的一名英语老师。

当时虽然美国的互联网泡沫正在不断扩大,但对许多中国企业来说,互联网依然是个陌生的概念。Mr. Ma and 17 other founding members created Alibaba.com, a trading website that connected Chinese manufacturers with overseas clients. Shortly after, eBay entered China by buying a stake in a domestic e-commerce company. Alibaba created Taobao in 2003 to enter a consumer e-commerce business, as Chinas Internet-user population was growing rapidly.马云和另外17位创立团队的成员创立了阿里巴巴网络有限公司(Alibaba.com),该交易网站将中国的制造商与海外客户联系了一起。旋即之后,eBay通过并购一家中国本土电子商务公司的股权转入中国市场。阿里巴巴于2003年创立淘宝网(Taobao),转入消费者电商业务,当时正值中国互联网用户人数很快快速增长之际。