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As it does in many other areas of Chinese life, Alibaba dominates cloud computing in China. Under founder and CEO Jack Ma Alibaba made cloud computing a key corporate priority, and incoming CEO Daniel Zhang plans to make those technologies an even bigger part of Alibaba’s corporate focus over the next couple of years.

As it expands its global footprint, Alibaba is employing a number of localization strategies to boost influence. It has, for instance, leveraged leading social media platforms, such as Facebook, Instagram and YouTube, to draw in shoppers through personalized advertisements.

As part of the poverty-relief program, Wang Jingyu received three months of training. "He didn't have to pay tuition costs and he also received about 180 yuan a month towards his medical fees," Xu said. "After graduation, we helped him find a job. He now earns 1,780 yuan per month."

As of April 14, a total of 241 listed companies on the A-share market have implemented stock buyback plans this year and 24 companies have announced plans to repurchase stocks, according to the paper.

As long as such deals are beneficial for all parties, "we'd like to explore two-party or even multiple-party cooperation, be it sharing vehicle platforms or production capacity," said Wei Jianjun, chairman of the carmaker, after the deal was signed.