Alibaba stated that during the next three financial years, it would provide $1 billion in support to customers of cloud services, a measure that the company believed would help to resume growth in this direction, which was slowed down by macroeconomic and other factors.
The program includes, "quoted by CNBC, a press release by Alibaba, and announced the launch of a programme to localize the cloud resources needed for business depending on the market.
Alibaba is the world's third cloud provider after Microsoft and Amazon. Cloud services are not a very large share of the company's business, but management sees them as an essential component for growth and profit prospects. Alibaba's work has been hampered by two powerful factors: the weakening of the Chinese economy with the return of the pandemic and the tightening of the country's regulatory framework.
Finally, client support will facilitate expansion into the foreign market. Over the past few years, Alibaba has opened several dates centres outside China to attract clients in Singapore and Thailand.