{"id":109186,"date":"2021-10-29T09:30:00","date_gmt":"2021-10-29T13:30:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=109186"},"modified":"2023-02-16T16:05:58","modified_gmt":"2023-02-16T21:05:58","slug":"alibaba-baba-e-commerce-in-new-national-plan","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/stocks\/alibaba-baba-e-commerce-in-new-national-plan\/","title":{"rendered":"Alibaba (BABA): E-Commerce in New National Plan"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">EXECUTIVE SUMMARY<\/h2>\n\n\n\n<ul class=\"wp-block-list\"><li>The authorities announced E-Commerce Part for China Development Plan in the Fourteenth Five Year Plan.<\/li><li>We believe it is a sign that the authorities do not plan to erase the non-state-owned internet companies.<\/li><li>We believe non-state-owned companies are important to employment rate.&nbsp;<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-details\">DETAILS<\/h2>\n\n\n\n<p>This week, three ministries together (Ministry of Commerce, Cyber Space Administration, and Development and Reform Commission) announced the E-Commerce Part for the China Development Plan in the Fourteenth Five Year Plan.<\/p>\n\n\n\n<p>We believe it is a sign that the authorities do not plan to erase the non-state-owned internet companies, although they have investigated and fined many of such companies.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Exhibit 1: E-Commerce Gross Merchandise Value &#8211; Retail<\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"865\" height=\"268\" data-src=\"\/campus\/wp-content\/uploads\/sites\/2\/2021\/10\/sm_10-29-21_1.png\" alt=\"Exhibit 1: E-Commerce Gross Merchandise Value - Retail\" class=\"wp-image-109187 lazyload\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/10\/sm_10-29-21_1.png 865w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/10\/sm_10-29-21_1-700x217.png 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/10\/sm_10-29-21_1-300x93.png 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/10\/sm_10-29-21_1-768x238.png 768w\" data-sizes=\"(max-width: 865px) 100vw, 865px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 865px; aspect-ratio: 865\/268;\" \/><\/figure>\n\n\n\n<p>Source: Ministry of Commerce and Aequitas Research.<\/p>\n\n\n\n<p>The authorities expect, in China, e-commerce will grow 4.3% annually in following five years, in which online retail will grow 7.6% annually (Exhibit 1). As we understand, a growth rate over 5% can be defined as \u201caggressive\u201d.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Exhibit 2: E-Commerce Gross Merchandise Value &#8211; Rural and International<\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"865\" height=\"268\" data-src=\"\/campus\/wp-content\/uploads\/sites\/2\/2021\/10\/sm_10-29-21_2.png\" alt=\"Exhibit 2: E-Commerce Gross Merchandise Value - Rural and International\" class=\"wp-image-109188 lazyload\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/10\/sm_10-29-21_2.png 865w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/10\/sm_10-29-21_2-700x217.png 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/10\/sm_10-29-21_2-300x93.png 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/10\/sm_10-29-21_2-768x238.png 768w\" data-sizes=\"(max-width: 865px) 100vw, 865px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 865px; aspect-ratio: 865\/268;\" \/><\/figure>\n\n\n\n<p>Source: Ministry of Commerce and Aequitas Research.<\/p>\n\n\n\n<p>The plan also expects Gross Merchandise Value (GMV) can grow 9.4% in rural area and 8.1% overseas (Exhibit 2). Similarly, the two niches do not account for a large part of total GMV, but the authorities mentioned them for different reasons.<\/p>\n\n\n\n<p>International trade has already recovered. For example, Alibaba started its own shipping line this year. This part of plan might be easily fulfilled. On the contrary, the authorities really hope e-commerce can extend to rural areas to narrow the gap between big cities and rural areas.<\/p>\n\n\n\n<p>The plan also mentioned that e-commerce employees should be 70 million in 2025, compared to 60 million in 2020. This is the key why online retailing will continue. The authorities may not like non-state-owned companies, but these companies do reduce unemployment.<\/p>\n\n\n\n<p>&#8212;<\/p>\n\n\n\n<p>Originally Posted on October 28. 2021 &#8211; <a href=\"https:\/\/www.smartkarma.com\/insights\/alibaba-baba-e-commerce-in-new-national-plan?utm_source=public-insights-sharing\">Alibaba (BABA): E-Commerce in New National Plan<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The authorities announced E-Commerce Part for China Development Plan in the Fourteenth Five Year Plan.<\/p>\n","protected":false},"author":706,"featured_media":109187,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4,18,8,9,22,26,3],"tags":[1567,1421,674],"contributors-categories":[13655],"class_list":{"0":"post-109186","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-asia","8":"category-macro","9":"category-region","10":"category-securities","11":"category-stocks","12":"category-text-articles","13":"category-traders-insight","14":"tag-alibaba","15":"tag-ecommerce","16":"tag-employment","17":"contributors-categories-smartkarma"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Alibaba 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