Alibaba marks a milestone

Alibaba Group said its gross merchandise volume (GMV) for the 2016 fiscal year had exceeded 3 trillion yuan (463 billion U.S. dollars).

The company’s 2016 fiscal year spans from April 1, 2015 to March 31, 2016.

Alibaba said it may surpass Wal-Mart in 2016 fiscal year and become the world’s biggest retail platform.

Home appliances, clothes, electronic devices and baby products are some of the most popular goods bought on Alibaba platform, according to the company.

Female users account for more than half of Taobao users and young people are its major customers, Alibaba said.