Chinese Shopping Splurges Are Set to Boost Alibaba’s Revenue


Chinese consumers can’t stop filling their closets with stuff they buy online—and that is powering e-commerce giant Alibaba Group Holding Ltd. to sterling results.

Alibaba predicts its revenue will increase by almost 50% this fiscal year on the backs of China’s swelling ranks of middle-class consumers. Its NYSE-listed shares have risen 80% since the beginning of the year, and investors are likely to get more cheer when the e-commerce…