分析：阿里巴巴下一步走向何方

分析：阿里巴巴下一步走向何方？《金融时报》

Rivals braced for Alibaba push overseas

When the thin man in the silver-coloured windbreaker walks on to the stage, a roar goes through the crowd. Then he starts singing: “Friends, we have walked together all our lives, but those days are over,” and the audience goes crazy.

那个身穿银色风衣的瘦削男子走上舞台时，人群发出一阵轰鸣。接着，这个男子开始演唱：“朋友一生一起走，那些日子不再有，”观众的兴奋情绪达到极点。

But this is not a pop concert. The 40,000 people in the Yellow Dragon Stadium in Hangzhou on Friday night were Alibaba Group employees and their family, and the man on stage was Jack Ma, saying farewell to the business he founded that has now grown into one of the world’s largest ecommerce companies.

但是，这并不是一场流行音乐会。上周五晚聚集在杭州黄龙体育馆的这4万人，是阿里巴巴集团(Alibaba Group)的雇员及其家人，而台上那人是正在告别该集团的马云(Jack Ma)，他创立的这家企业已发展壮大，成为全球最大电子商务公司之一。

At 48, Mr Ma has handed the job of chief executive to Jonathan Lu, his trusted lieutenant and 13-year Alibaba veteran, and gone into semi-retirement as executive chairman.

现年48岁的马云将首席执行官的职位交给自己的亲信、为阿里巴巴效力13年的公司元老陆兆禧(Jonathan Lu)，自己继续担任执行董事长，由此进入半退休状态。

The change at the top comes as the group is preparing what could become one of the largest-ever internet initial public offerings. A listing in the US, expected at the end of this year or in early 2014, would allow Alibaba to buy back up to half of Yahoo’s 24 per cent stake in itself and raise $60bn or more from public investors.

高层换人之际，阿里巴巴集团正准备进行首次公开发行(IPO)，这可能成为史上规模最大的互联网企业IPO之一。预计该集团将在今年底或2014年初在美国上市，使其能够购回雅虎(Yahoo)所持其24%股份的至多一半，并从公开市场投资者那里募资至少600亿美元。

Mr Lu inherits a formidable business. Alibaba operates the world’s largest online marketplace for trade between companies. It has also built an unrivalled online retail platform in China. Taobao.com, the group’s eBay-like consumer-to-consumer website, accounts for 90 per cent of China’s online retail transaction value in this segment.

陆兆禧继承了一家令人敬畏的企业。阿里巴巴集团运营着世界上最大的企业对企业(B2B)在线交易市场。它还打造了中国首屈一指的在线零售平台。淘宝网(Taobao.com)是阿里巴巴集团旗下类似于eBay的消费者对消费者(C2C)网站，在该板块占有中国在线零售交易价值的90%。

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