A growing number of international business buyers are shopping on Alibaba.com, China-based e-commerce giant Alibaba Group Holding Ltd. says.

Revenue on the Alibaba.com international business-to-business marketplace increased 15% to 5.425 billion yuan (US$834.15 million) for the company’s 2016 fiscal year, which ended March 31, from 4.718 billion yuan (US$725.44 million). Alibaba attributed the increase in its international B2B e-commerce revenue to import-export services provided by OneTouch, a unit of Alibaba.com. Alibaba’s revenue related to value-added services provided by suppliers on Alibaba.com also increased, though Alibaba declines to specify exactly what kind of value-added services Chinese suppliers were providing buyers.

On 1688.com, Alibaba’s B2B portal for China-based buyers and suppliers, the company reported a 35% increase in fiscal 2016 revenue to 4.288 billion yuan (US$659.33 million), up from 3.205 billion yuan (US$492.89 million).

Alibaba doesn’t report its B2B gross merchandise value, which is the value of all transactions on Alibaba.com and 1688.com.

For the fiscal year ended March 31, Alibaba also reported:

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  • 3.019 billion yuan (US$464.20 million) in revenue from cloud computing and Internet infrastructure, up 138% from 1.271 billion yuan (US$19.43 million). Alibaba attributed the increase partly to rising interest in its web content delivery and database services. More than 500,000 paying customers use these Internet-based services, an increase of more than 100% year over year, Alibaba says;
  • Net income of 71.289 billion yuan (US$10.96 billion), up 193% from 24.320 billion yuan (US$3.74 million) a year earlier.

Alibaba Group also reported a 27% increase in the gross merchandise value of transactions on its retail e-commerce sites in fiscal 2016.

Alibaba also reported for the fiscal quarter ended March 31:

  • Alibaba.com revenue of 1.395 billion yuan (US$214.50 million), up 16% from 1.2 billion yuan (US$184.55 million);
  • 1688.com, Alibaba’s B2B portal for China-based buyers and suppliers, produced revenue of 1.083 billion yuan (US$166.52 million), up 28% from 846 million yuan (US$130.08 million);
  • 1.066 billion yuan (US$163.91 million) in revenue from cloud computing and Internet infrastructure, up 175% from 388 million yuan (US$59.67 million);
  • Net income of 5.314 billion yuan (US$817.09 million), up 85% from 2.869 billion yuan (US$441.14 million) a year earlier.

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