Alibaba creates a Russian subsidiary

According to a report in the Russian financial newspaper Kommersant, Chinese e-commerce giant Alibaba has set up and registered a subsidiary company in Russia.

Mark Zavadsky, who will run the new company, said its aim was “to further expand our business and support our partners, and also to facilitate cooperation with the Russian authorities.” Zavadsky is also business development director at AliExpress, an online shopping site in Russia and the Commonwealth of Independent States.

East-West Digital News has reported that about 70% of the packages imported into Russia in 2014 came from China.